The theory of common currency area used to be regarded as a pure-academic issue and of little use in the real economy and policy-making.

共同货币区理论曾一度被认为是纯粹学术的问题，对实际经济运行和政策制定基本上没有太多的指导作用。

youdao

The 13 members of the euro area may share the same money.But payments in this common currency cannot circulate fluently between them.

欧元区的13个成员国或许可以使用同一种货币，但是，这种货币却无法作为支付工具在他们之间顺利流通。

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French activity growth was at its slowest in ten months, highlighting the asymmetry of the recovery within the 16-nation common-currency area.

法国活跃增长是10个月来最低点，和16个国家共同货币区的复苏成鲜明对比。

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Nations in the euro area share a common currency, but not a common financial policy.

VOA: special.2010.02.12

In establishing the common currency area, the Euro, the separate countries are essentially throwing away this adjustment mechanism.

FORBES: Friedman and Roubini on the Euro Breakup

And for a common currency to work it must be applied across something which is at least close to being an optimal currency area.

FORBES: The Inevitable Failure of the Euro

To some extent, their hopes were warranted: The growth correlation between Germany and other euro-area economies has risen sharply since they adopted the common currency.

WSJ: Troubles in Euro Zone Offer Chance to Fix Its Flaws