The European Union (EU) is a politic/economic union of 28 member states that are located primarily in Europe. It has an area of 4,324,782 km2 (1,669,808 sq mi), and an estimated population of over 510 million. The euro (sign: €; code: EUR) is the official currency of the eurozone.

One of the advantages of the adoption of a common currency is the reduction of the risk associated with changes in currency exchange rates. It has been found that the introduction of the euro created "significant reductions in market risk exposures for nonfinancial firms both in and outside of Europe."

The European sovereign debt crisis occurred during a period of time in which several European countries faced the collapse of financial institutions, high government debt and rapidly rising bond yield spreads in government securities. The European sovereign debt crisis started in 2008, with the collapse of Iceland's banking system, and spread primarily to Greece, Ireland and Portugal during 2009. Also recently, credit rating agency Standard and Poor's has cut their rating for the European Union's debt from AA+ to AA. The agency cited the United Kingdom's decision to exit the organization (Brexit) and a possible cascading effect from the vote as the primary reasons for the downgrade. the U.K. has voted to leave the European Union. The financial markets braced for a knee-jerk reaction to the results of the European Union Referendum vote and will now awake to turmoil. Prime Minister David Cameron has announced he will step down in October 2016.

Latest news on The Eropean Union & the Economy

Rachel Reeves' five choices to turn government finances around - BBC
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Piercing the fog of hospital finances - Association of Health Care Journalists
At HJ25, Karl Stark spoke about how to dig into hospital finances as more health systems shift care into outpatient facilities.
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Development finance needs a reset, not a retreat - Gates Foundation
Gargee Ghosh calls for a bold reset of development finance amid a sharp decline in global aid budgets and compounding global crises.
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Isko Moreno vows to 'clean up City Hall' as city finances 'in critical condition' - YouTube
Manila Mayor Isko Moreno vowed to 'Make Manila Great Again' during his State of the City Address on Tuesday (July 1). He unveiled his 10-year plan ...
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UK stocks fall on concerns over state finances after costly U-turns | Reuters
British stocks fell on Wednesday, part of a wider selloff of UK assets, amid rising concerns over public finances after finance minister Rachel ...
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PGA Tour to redistribute FedExCup bonus money in three waves - NBC Sports
This year's $100 million in bonus money, traditionally awarded after the playoff finale, will be distributed in three waves ' after the ...
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What's the dumbest but most satisfying thing you've spent money on' : r/CasualConversation - Reddit
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moistbuddha | Infinite money glitch @chasedownleads - Instagram
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PAC Spending in Council Races More Than Doubled, Fueled by Money from DoorDash ...
Under New York State law, independent expenditure groups can spend money on advertisements supporting or opposing candidates' campaigns, but cannot ...
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Scammed for money - Google Wallet Community
Scammed for money ... I used my Google wallet to tap a account that I thought was my new account at my banks ATM. Turns out it was another's persons ...
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Fast Money: JPM, AMAT, C, EL - CNBC
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