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The EURO, Eurozone & the European Central Bank

 It is also a harbinger of a changing attitude toward the state-centric concept of sovereignty. The EU, particularly in light of the creation of a transnational currency regime and a legislative assembly and central bank, has become a sovereign entity in and of itself; however, the question of how such an entity will ultimately impact upon the activities of member states remains unanswered. As significant is the fact that while the membership of the EU is growing, not all EU members participate in the Euro or the EUROZONE; this creates a multi-level EU in which a selected assortment of sovereign states are juxtaposed against a larger group of nonparticipants, for whom many of the benefits of EU membership are not available. Clearly, as Aalberts has suggested, this has the potential for engendering


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The EURO, Eurozone & the European Central Bank. (1969, December 31). In Retrieved 22:46, October 24, 2014, from
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