10) Tax Cuts for the Consumer: Sweden (1873), Denmark (1873) and Norway (1875) formed the Scandinavian Monetary Union. What is a monetary union? Is it sufficient to have a single currency with free and guaranteed convertibility? The rules of this Union were somewhat peculiar and, in some respects, seemed to defy conventional economic wisdom. The information presented here is designed for the Forex/currency trader. This information is also useful to anyone who would like to develop an understanding of factors which determine currency value. For the currency trader, this understanding is needed in order to pre-empt inflationary pressures. This need arises precisely because these countries share a common currency. In other words, the effects of one member's fiscal decisions are communicated to other members (through the monetary policy) because they share one currency. The currency is the medium of exchange of information regarding the present and future health of the economies involved. 5. Spread Betting 9) Government Growth: Monetary unions, as we said, are no novelty. People felt the need to create a uniform medium of exchange of information regarding