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The Eurosystem is the monetary authority of the eurozone, the Eurogroup is an informal body of finance ministers that makes fiscal policy for the currency union, and the European System of Central Banks is responsible for fiscal and monetary cooperation between eurozone and non-eurozone EU members.
Latvia is the fastest growing economy in both the eurozone and the European Union. Luxembourg is home to the highest GDP (nominal) per capita in both the European Union and eurozone. Malta is the smallest economy in the eurozone as well as the European Union, and is the fastest growing European economy in the Commonwealth of Nations.
Finland is the only Nordic country to have joined the Eurozone; Denmark and Sweden have retained their traditional currencies, whereas Iceland and Norway are not members of the EU at all. Finland has been ranked seventh in the Global Innovation Index of 2023, making it the seventh most innovative country down from 2nd in 2018. [34] [35]
Nordic parliaments are all based on a one-chamber system. The Norwegian parliament, the Storting, did actually function as two separate chambers until 2009 when dealing with certain issues. The Icelandic Althing, founded in 930 AD, is reputed to be the oldest working parliament in the world. However, it was dissolved for much of the first half ...
Co-ordinated organisations; Euronest Parliamentary Assembly; European integration; International organization; List of countries in Europe; List of European countries by life expectancy
The Eurosystem is the monetary authority of the eurozone, the collective of European Union member states that have adopted the euro as their sole official currency. The European Central Bank (ECB) has, under Article 16 of its Statute, [ 1 ] the exclusive right to authorise the issuance of euro banknotes .
For example, at the April 2014 assessment: Greece, Bulgaria and Cyprus with HICP values respectively 2.2, 1.8 and 1.4 percentage points below the eurozone average, were all found to have suffered from exceptional factors, and hence concluded to be outliers, causing the reference limit instead to be calculated based on the HICP values from the ...
The relationship between euro and non-euro states has been on debate both during the United Kingdom's membership (as a large opt-out state) and in light of withdrawal from the EU and how that impacts the balance of power between the countries inside and those outside the eurozone, avoiding a eurozone caucus out-voting non-euro states. Former ...