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monetary union

通貨同盟 ／ monetary-union　—　Institutions

An agreement among states to hold their coinage to one standard.

Two-euro commemorative (ten years of Economic and Monetary Union) Two-euro commemorative (ten years of Economic and Monetary Union)2009 Belgian five-franc silver coin Belgian five-franc silver coin1869 Two-peseta silver coin (provisional government) Two-peseta silver coin (provisional government)Dated 1870
A photograph of the real thing this term names.

If made to the same weight and fineness, they can circulate across borders as is. ⚠ If one country fails to adhere to the standard and debases its currency, the inferior coins will spread throughout the union. A union without an enforcement mechanism will not last long.