About

The USC Chamber of Commerce administers the original Union of 1781 "Currency Union" and or "Monetary Union".

Definition:

A currency union (also known as monetary union) involves two or more states sharing the same currency without them necessarily having any further integration (such as an economic and monetary union, which would have, in addition, a customs union and a single market).

Three types of currency unions exist:

Informal – unilateral adoption of foreign currency.

Formal – adoption of foreign currency by virtue of bilateral or multilateral agreement with the issuing authority, sometimes supplemented by issue of local currency in currency peg regime.

Formal with common policy – establishment by multiple countries of a common monetary policy and issuing authority for their common currency

The theory of the optimal currency area addresses the question of how to determine what geographical regions should share a currency in order to maximize economic efficiency.

The USC Chamber of Commerce is free to join for the purpose of collborating with those countries or associations that would like to embrace the Currency Union in whatever form, whether alternative local currencies, or National currencies.

Authority and Origin of this Currency Union:

Articles of Association of 1774 as amended May 15th, 2017