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euro area vs eurozone

Both 'euro area' and 'eurozone' are correct terms used to refer to the group of European Union countries that have adopted the euro as their official currency. They are interchangeable and can be used depending on personal preference or context.

Last updated: March 30, 2024 • 572 views

euro area

This phrase is correct and commonly used to refer to the group of European Union countries that have adopted the euro as their official currency.

The term 'euro area' is used to describe the geographical area where the euro is the official currency. It is often used in economic and financial contexts.

Examples:

  • The euro area consists of 19 European Union countries.
  • Economic indicators in the euro area are closely monitored by analysts.
  • The European Central Bank is responsible for monetary policy in the euro area.
  • The coordination procedures reflect the increased interdependence among euro area countries.
  • New euro area countries initially borrow banknotes
  • In 2006 the euro area economy expanded robustly.
  • These analyses clearly enhance our understanding of euro area developments.
  • These general eligibility criteria are uniform throughout the euro area.
  • euro area OFI and ICPF as originator
  • Any rotation system to be designed should ideally be stable vis-à-vis future euro area enlargements.
  • Central government holdings of instruments issued by euro area MFIs
  • A final step was the sovereign debt crisis in the euro area during spring 2010.
  • Overall, monetary policy in the euro area has developed satisfactorily in my view.
  • Doubts about debt sustainability and higher spreads could emerge across euro area countries.
  • (2k) Member States outside the euro area are not obliged to implement this R egulation.
  • On a more positive note, both 2003 and 2004 have seen some progress towards structural reforms in several euro area countries.
  • That said, all Eurobond proposals imply common debt issuance between euro area Member States and some form of mutual guarantee.
  • In the euro area, monetary policy is a Union competence.
  • Both global demand and euro area demand are likely to be dampened for a protracted period.
  • The euro area economy does not have major imbalances.
  • Banknotes have to be freely exchangeable across the whole euro area.
  • Meanwhile, the ECB has continued developing common methodologies for calculating comparable euro area statistical indicators of financial markets.
  • «Recent findings on monetary policy transmission in the euro area», October 2002.

Alternatives:

  • eurozone
  • euro monetary area
  • euro currency area
  • euro region
  • euro bloc

eurozone

This phrase is correct and commonly used to refer to the group of European Union countries that have adopted the euro as their official currency.

The term 'eurozone' is used interchangeably with 'euro area' to describe the group of European Union countries that have adopted the euro as their official currency.

Examples:

  • The eurozone countries share a common currency.
  • Economic policies in the eurozone are coordinated by the European Central Bank.
  • Greece is a member of the eurozone.
  • Only a comprehensive strategy can rescue the eurozone now.
  • The eurozone survived its crisis for two key reasons.
  • Even the eurozone's macroeconomic imbalances largely went unnoticed.
  • Indicators for the eurozone are even worse.
  • These speculative processes will make a comeback in the future until the economic governance of the eurozone is solved.
  • In these countries, inflation and unemployment are lower than in the eurozone, and growth is higher.
  • Disintegration of the eurozone could follow.
  • The eurozone went one step further, aiming through monetary unification to eradicate fully the transaction costs associated with national currencies and exchange-rate risk.
  • The eurozone urgently needs a crisis mechanism with automatic haircuts for cases of impending insolvency.
  • Sweden wishes to reserve the right to stay outside the eurozone.
  • Thus we wish our colleagues in the eurozone well.
  • Not surprisingly, workers are leaving the eurozone's crisis countries, but not necessarily for its stronger northern region.
  • Think of the eurozone as a selective club.
  • Nor is Germany a "growth engine" for the eurozone.
  • For example, the German reforms of 2003-2006 increased flexibility significantly (though in a more benign global and eurozone setting).
  • PARIS - A year ago the eurozone was in serious trouble.
  • In June 2012, eurozone leaders announced their intention to establish a European banking union.
  • Alas, it may now be too late for the eurozone.
  • This is what happened in the eurozone when the interbank market first broke down in mid-2007.
  • Low inflation is already a serious obstacle to economic recovery and rebalancing within the eurozone.

Alternatives:

  • euro area
  • euro monetary area
  • euro currency area
  • euro region
  • euro bloc

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