Reform of European monetary union Implementing economic reforms at the national or European level as a way of strengthening the euro area and restoring trust in the agreed rules of European monetary union (EMU) is also important to improve the cohesion in the euro area, which has undoubtedly suffered from the financial and sovereign debt crises.
Third, the key responsibilities of the board outlined under the Co-operative Societies Act cover preparation of the annual balance sheet, convening and voting at an AGM and election of Board members. By contrast, the Draft Credit Union Bill captures standards for effective governance of the board.