Monetary sovereignty is the power of the state to exercise exclusive legal control over its currency, broadly defined, by exercise of the following powers:
Legal tender – the exclusive authority to designate the legal tender forms of payment.[1]
Issuance and retirement – the exclusive authority to control the issuance and retirement of the legal tender.[2]
Incidence of monetary sovereigntyedit
Currently, nations such as the USA and Japan, which have autonomous central banks exercise monetary sovereignty. On the other hand, the European Union nations within the Eurozone, have ceded much of their monetary sovereignty to the European Central Bank.[3]
Referencesedit
^Nzaou-Kongo, Aubin (2020). "International Law and Monetary Sovereignty: The Current Problems of the International Trusteeship of the Cfa Franc and the Crisis of Sovereign Equality". African Review of Law and Critical Thinking. 1 (1): 25–61. doi:10.6084/m9.figshare.12808835.v3. Retrieved 5 December 2020.
^"The Legal Aspect of Money" by F.A. Mann, 5th edition, Oxford, 1992, pp. 460-78
^Cohen, Benjamin J. (2000). The Geography of Money. Cornell University Press. pp. 47ff. ISBN978-0801485138.
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monetary, sovereignty, main, article, history, money, power, state, exercise, exclusive, legal, control, over, currency, broadly, defined, exercise, following, powers, legal, tender, exclusive, authority, designate, legal, tender, forms, payment, issuance, ret. Main article History of money Monetary sovereignty is the power of the state to exercise exclusive legal control over its currency broadly defined by exercise of the following powers Legal tender the exclusive authority to designate the legal tender forms of payment 1 Issuance and retirement the exclusive authority to control the issuance and retirement of the legal tender 2 Incidence of monetary sovereignty editCurrently nations such as the USA and Japan which have autonomous central banks exercise monetary sovereignty On the other hand the European Union nations within the Eurozone have ceded much of their monetary sovereignty to the European Central Bank 3 References edit Nzaou Kongo Aubin 2020 International Law and Monetary Sovereignty The Current Problems of the International Trusteeship of the Cfa Franc and the Crisis of Sovereign Equality African Review of Law and Critical Thinking 1 1 25 61 doi 10 6084 m9 figshare 12808835 v3 Retrieved 5 December 2020 The Legal Aspect of Money by F A Mann 5th edition Oxford 1992 pp 460 78 Cohen Benjamin J 2000 The Geography of Money Cornell University Press pp 47ff ISBN 978 0801485138 nbsp This economics related article is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Monetary sovereignty amp oldid 1179838224, wikipedia, wiki, book, books, library,
