Monetary sovereignty is the power of the state to exercise exclusive legal control over its currency, broadly defined, by exercise of the following powers: 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] This economics-related article is a stub.
You can help Wikipedia by expanding it.