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Definitions from the Web

Eurozone

Description

The term "Eurozone" refers to a geographical and economic area consisting of the European Union (EU) member states that have adopted the euro as their official currency. It represents a monetary union within the EU, where countries share the common currency and monetary policies.

Parts of Speech

• Noun

Senses and Usages

Sense 1: Geographical and Economic Area

In a geographical sense, the Eurozone encompasses all the countries within the European Union that have adopted the euro. These countries belong to a single currency area, facilitating easier trade, financial transactions, and economic integration. The euro becomes the legal tender in all Eurozone countries, replacing their respective national currencies.

Example Sentence: The Eurozone has experienced significant economic growth in recent years.

Sense 2: Monetary Union

The Eurozone, as a monetary union, involves collaboration among its member states to maintain consistent monetary policies. It is regulated by the European Central Bank (ECB) and ensures the stability and reliability of the euro as a common currency.

Example Sentence: The Eurozone countries meet regularly to discuss fiscal and monetary matters.

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