Sentence examples for currency members from inspiring English sources

The goal was to give Greece and other currency members breathing space at a time when reorganizing their finances in the markets had become prohibitively expensive.

European optimists hope the way to save the eurozone will be to complete the project by agreeing much closer fiscal and political union between the single currency members.

Portugal, though, is worried about a possible Greek exit from the eurozone, fearing the precedent it would set for weaker single currency members.

Cyprus stayed in the euro after introducing capital controls, but it was done with the approval of other single currency members and involved knuckling down under an austerity programme.

With the pressure from the financial markets on the euro and on the borrowing costs of weak single currency members relatively low, it appeared that EU leaders felt less need to take bolder decisions.

Chancellor George Osborne hinted that he shared Zoellick's concerns when he admitted that closer fiscal union, perhaps driven by the issue of eurobonds underwritten by the 17 single currency members, might be the only solution to the crisis.

In addition, by adopting the euro, a single currency, member states agreed to cede substantial authority on financial management to the EU.

European countries stepped into uncharted territory tonight, deciding on the first bailout of a single currency member state by agreeing a three-year package worth ¤110bn (£95bn) to rescue Greece from financial meltdown in return for pledges on the most drastic overhaul of a European economy ever attempted.

To join the currency, member states had to qualify by meeting the terms of the treaty in terms of budget deficits, inflation, interest rates and other monetary requirements.

To participate in the currency, member states are meant to meet strict criteria, such as a budget deficit of less than three per cent of their GDP, a debt ratio of less than sixty per cent of GDP (both of which were ultimately widely flouted after introduction), low inflation, and interest rates close to the EU average.

Europe – and especially the 17 single-currency members – has exhausted all avenues for major assistance in the wider world.