Lex monetae is a latin phrase which means that a sovereign state chooses which currency it will use and that the meaning of units of above-mentioned currency is determined by the law of the country whose money is in question.
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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- Garner, Bryan A. (2001). A Dictionary of Modern Legal Usage. Oxford University Press. p. 526. ISBN 9780195142365. Retrieved July 2, 2015.
- "Multinationals sweep euros from accounts on daily basis". Telegraph. Retrieved May 20, 2012.
- "Lex Monetae". Morgan Stanley. Retrieved May 20, 2012.
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