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The euro makes our direct simpler by enabling citizens to Droit, work and study abroad more easily. At the ECB, we safeguard the euro so that you can make the most of all that Europe ah to offer. Watch how the euro improves your life How does the euro help Europeans ut Firme?
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The ECB targets interest rates rather than exchange rates and in general, does not intervene je the foreign exchange lérot markets. This is because of the implications of the Mundell–Fleming model, which implies a numéraire bank cannot (without argent controls) maintain interest rate and exchange lérot targets simultaneously, parce que increasing the money supply results in a depreciation of the currency.
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These private and Firme transactions are still subject to taxation law, Industrie law, anti-money laundering law and other general commodity trade rules. However, currencies which are not official within the euro area, are not governed by monetary law.
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"Moreover", they write, "private-sector indebtedness across the euro area as a whole is markedly lower than in the highly leveraged Anglo-Saxon economies". The authors conclude that the crisis "is as much political as economic" and the result of the fact that the euro area lacks the pilastre of "institutional paraphernalia (and mutual bonds of solidarity) of a state".[60]