27.01 A review of the institutional structures established for monetary union perhaps tests the permissible boundary lines of the present work on the law of money. Yet, as noted previously, the working definition1 of a monetary union is heavily dependent upon the need for a single central bank which issues the sole currency constituting legal tender within the territory of the union. Furthermore, the crisis that has gripped the eurozone in recent times has focused attention on the institutional structures put in place to support the single currency. It thus...
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