Lex monetae is a latin phrase which means that a sovereign state chooses which currency it will use. The concept has been identified as a potential problem if the Eurozone breaks up or a member state decides to leave it, since debts in euros may turn into debts owed in another currency. Conversion would be at a rate determined by the nation in question, and no party to a contract or transaction will have the right to default on it.
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- "Lex Monetae". Morgan Stanley. Retrieved May 20, 2012.
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