Which form of regional cooperation agreement, when fully implemented, entails creation of a unified central bank, the use of a single currency, and common policies on agriculture, social services, and welfare?
The economic union is a single type of a trading block that is made of the common market and is a type of the customs union and it includes the both the policies in the product regulation and the freedom of the goods and services and the factors of the production and has a common external trade policy. That involves the unified currency and a monetary system.
