The founding principle of the euro zone was that it would have a common currency.
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He insisted that deeper economic integration was necessary for the success of a common currency.
Any suggestion of a euro-style common currency would, warns the First Minister, raise "very real risks".
In a common currency they do not have the flexibility to embrace different policies.
Mr Clarke has promised a free vote on European issues, including joining a common currency.
The Euro currency has somewhat stabilized after the common currency hit a 3.5-month low on Tuesday.
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The common currency magnifies the butterfly effect of positive or negative shocks within the Euro zone.
Sunday's vote was seen as a referendum on the survival of the continent's common currency.
The Euro currency has also stabilized Wednesday after the common currency hit a 3.5-month low on Tuesday.
Instead, he pledged to draw up a set of additional unconventional measures to preserve the common currency.
She said that countries that share a common currency do not go to war with each other.
If this ambitious project ever takes off, the question will be what common currency to link to.
After three years of lagging, Europe's 12-nation common currency, the euro, is at parity with the dollar.
Imperial ties affect trade patterns more than membership of a common currency (which boosts trade by only 114%).
In establishing the common currency area, the Euro, the separate countries are essentially throwing away this adjustment mechanism.
If Europe's economic core is at last reviving, why do the markets continue to mock its common currency?
Such a break up would entail Greece and Spain living the euro common currency in a worst case scenario.
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The ongoing fiscal discipline needed for a common currency to work in Europe was appreciated, but probably not sufficiently.
Initial high-frequency data for September, though, point at a recovery in EM central bank demand for the common currency.
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The date is now even more significant since the new measures were adopted and effectively saved the common currency.
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Anyone looking at Europe currently would conclude that building a new common currency would be an act of madness.
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The common currency will most likely trade down as I predicted in November.
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Furthermore, a common currency cannot survive on the long term if it is not backed by a political union.
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And some people say that adopting the euro (the common currency of many European nations) helped create the current mess.
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Earlier, Professor Lucke told the BBC he wanted to see a "gradual dismantling of the euro as a common currency".
Once the common currency is gone, the union will probably transform into something easier to manage, less complex, less heterogeneous.
It can exist within the continent even as the grease of a common trading and common currency zone is maintained.
After falling almost 170 pips from the high, the common currency has found some footing slightly over the 1.2800 level.
There is also the continued optimism surrounding the European bank stress tests which have served to strengthen the common currency.
During the European trading session the common currency broke to new three-month highs on the back of better-than-expected economic reports.
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