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Effective currency unions need institutions to support an integrated financial sector, he says.
This is a technocratic assessment of what makes an effective currency union between independent nations.
Yet few would argue that the euro area is the most effective currency union of the three.
Mr Carney couched it as "a technocratic assessment of what makes an effective currency union between independent nations".
It had problems like any city but there was no reason that fear should be such an effective currency in the political process.
He was a ruler for whom diplomacy, however tortuous, was a more natural weapon than the sword, and gold, however corrupting, a more effective currency than blood.
Similar(45)
Along the journey, the functional role of primary producers who convert sunlight into an effective ecological currency is further investigated, along with characteristics that define what a dinosaur is (and isn't!).
Cash transfers were widely perceived as the most effective modality, assuming currency values remain relatively stable.
Could Europe have a single currency without effective controls on national budgets?
Credibility, the currency of effective central banking, will be in shorter supply".
Furthermore, the absence of volatility spillover from foreign exchange market to stock market in case of India would represent the effective hedging strategies against currency risk.
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