The Currency Economy and Politics

11/29/2018 AT 9:30 am add to calendar

The Currency Economy and Politics

“Contemporary economies, including eurozone countries, are based on fiat currency. This is currency declared to be legal tender and issued by a central bank, but which cannot be converted. Currency, when accepted in the transactions of goods and services, means that economic agents accept it because they trust central banks. In the case of the European Central Bank, the objective is to maintain price stability. This desideratum can create problems with price variations, that is, with an oscillation that is not socially desirable. The economic effects can be perverse and imply the intervention of public and economic policies that affect output and employment. The correlation of this trio of situations requires the perception of what it represents for citizens and for the solidity of daily life.”

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