Flashcards: Eurozone

The European Systemic Risk Board (ESRB) was established on 16 December 2010 in response to the ongoing financial crisis.

The European Banking Authority (EBA) is a regulatory agency of the European Union still headquartered in London, United Kingdom.

The Project for Democratic Union (PDU), is a European political think-tank promoting a full political integration of the Eurozone.

European Monetary System (EMS) was an arrangement established in 1979 under the Jenkins European Commission where most nations of the European Economic Community (EEC) linked their currencies to prevent large fluctuations relative to one another.

The Stability Council (Stabilitätsrat) is a joint body of the German Federation (Bund) and the federal states (Länder).

The European Financial Stabilisation Mechanism (EFSM) is an emergency funding programme reliant upon funds raised on the financial markets and guaranteed by the European Commission using the budget of the European Union as collateral.

The High Council of Public Finances (HCFP) is an independent fiscal oversight body created by the Organic Law 2012-1403 in December 2012 by the french government in the framework European Union budgetary coordination.

European bonds are suggested government bonds issued in Euros jointly by the 19 eurozone nations.

The 2012 Wolfson Economics Prize was a contest for proposals on how the Eurozone could be safely dismantled.

The Eurosystem is the monetary authority of the eurozone, the collective of European Union member states that have adopted the euro as their sole official currency.

The board is an independent body of experts that assists the Stability Council in monitoring compliance with the upper limit on the general government structural deficit set out in the Budgetary Principles Act.

The Economic and Monetary Union (EMU) is an umbrella term for the group of policies aimed at converging the economies of member states of the European Union at three stages.

The Euro summit (also referred to as the eurozone summit or euro area summit) is the meeting of the heads of state or government of the member states of the eurozone (those EU states which have adopted the euro).

The European debt crisis (often also referred to as the Eurozone crisis or the European sovereign debt crisis) is a multi-year debt crisis that has been taking place in the European Union since the end of 2009.

The European Currency Unit (₠ or ECU, French pronunciation: ​[eky]) was a basket of the currencies of the European Community member states, used as the unit of account of the European Community before being replaced by the euro on the 1st of January 1999, at parity.

The eurozone (), officially called the euro area, is a monetary union of 19 of the 28 European Union (EU) member states which have adopted the euro (€) as their common currency and sole legal tender.

The European Central Bank (ECB) is the central bank for the euro and administers monetary policy of the eurozone, which consists of 19 EU member states and is one of the largest currency areas in the world.

The European Stability Mechanism (ESM) is an intergovernmental organization located in Luxembourg City, which operates under public international law for all eurozone Member States having ratified a special ESM intergovernmental treaty.