Title: Difference Between Eurozone and EU | Compare the Difference Between Similar Terms
Headings: Difference Between Eurozone and EU
Difference Between Eurozone and EU
Eurozone vs EU
Eurozone
European Union (EU)
Eurozone vs European Union
Summary:

Content: The following article provides a more comprehensive explanation between the two and better outlines their differences. Eurozone
The Eurozone is a union of countries that use the same currency called the Euro. The Euro is used by 17 member states in the European Union which include countries such as Belgium, Austria, France, Italy, Spain, Cyprus, Estonia, etc. Since all members of the Eurozone use a common currency, the monetary policies of these countries are set by a common entity, which is the European Central Bank. The ECB’s main focus is on making sure inflation in the Eurozone is kept under control. There are a number of benefits in using a common currency for the Eurozone; these include no exchange rate risk, facilitating better trade in terms of imports and exports (which are now the same price to everyone since there is no exchange rate cost) and strengthening of the stability of the currency even in terms of other currencies. The major disadvantage is in having to follow common economic policies that may not be conducive to the very different economic and political conditions prevalent in each country. European Union (EU)
The European Union is made of a number of countries who have come together to form a political and economic entity so that their governments may work together for the benefit of the member countries. There are a number of rules and requirements that must be met in order for countries to be included into the EU, and these member countries receive various benefits in doing so.