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Madeira Escudo

What is 'Madeira Escudo'

The former currency of Madeira, an island off the coast of Portugal. The Madeira escudo was used as Madeira's currency until it adopted the euro along with Portugal on January 1, 2002. Madeira belongs to Portugal, but has been an autonomous region since 1976, meaning that it has its own government and legislature and can make its own decisions on regional matters. It has Portugal's second highest GDP after Lisbon and is a popular EU tourist destination, perhaps best known for its fortified wine production. The escudo was also the former official currency of Portugal until the adoption of the euro.

Explaining 'Madeira Escudo'

Madeira along with Portgual adopted the euro to help facilitate trade among EU countries, eliminating the uncertainties imposed by fluctuating exchange rates and the need to exchange currencies before completing a transaction.





The euro also prevents individual EU member countries from inflating their currencies to eliminate government debt (though the EU central bank still has that power). Critics have pointed out that widespread implementation of the euro decreases currency competition, giving people fewer options for holding their money in a different currency when faced with wealth-eroding monetary policies such as inflation. Others have pointed out that widespread use of the euro could be followed by tax harmonization policies that would decrease tax competition among member states and stifle economic growth.


Further Reading


Stock market development, financial development and economic growth in Portugal
ubibliorum.ubi.pt [PDF]
Financial system and economic growth are closely related, since a lot of decades this theme had been the subject of many research. As we know financial system might be divided into two components: the stock market and the banking system. This study tests the relationship …

Innovation study:" Economic contribution of the whale-watching industry for the Madeira Archipelago"Innovation study:" Economic contribution of the whale-watching industry for the Madeira Archipelago"
digituma.uma.pt [PDF]
Financial system and economic growth are closely related, since a lot of decades this theme had been the subject of many research. As we know financial system might be divided into two components: the stock market and the banking system. This study tests the relationship …

Madeira embroidery: A failed collective brand (1935–59)Madeira embroidery: A failed collective brand (1935–59)
www.tandfonline.com [PDF]
Financial system and economic growth are closely related, since a lot of decades this theme had been the subject of many research. As we know financial system might be divided into two components: the stock market and the banking system. This study tests the relationship …

The Colonial Budgets, a Sophisticated Portuguese Late Imperialism Propaganda Device.The Colonial Budgets, a Sophisticated Portuguese Late Imperialism Propaganda Device.
search.ebscohost.com [PDF]
Financial system and economic growth are closely related, since a lot of decades this theme had been the subject of many research. As we know financial system might be divided into two components: the stock market and the banking system. This study tests the relationship …

Establishing Suitable Strategies to Improve Sustainable Development in the Portuguese Ultraperipheral Regions of Madeira and the Azores. CEPS Working …Establishing Suitable Strategies to Improve Sustainable Development in the Portuguese Ultraperipheral Regions of Madeira and the Azores. CEPS Working …
aei.pitt.edu [PDF]
Financial system and economic growth are closely related, since a lot of decades this theme had been the subject of many research. As we know financial system might be divided into two components: the stock market and the banking system. This study tests the relationship …

Social action in PortugalSocial action in Portugal
www.tandfonline.com [PDF]
Financial system and economic growth are closely related, since a lot of decades this theme had been the subject of many research. As we know financial system might be divided into two components: the stock market and the banking system. This study tests the relationship …

Introduction: Why to Study “The Portuguese Introduction: Why to Study “The Portuguese
link.springer.com [PDF]
Financial system and economic growth are closely related, since a lot of decades this theme had been the subject of many research. As we know financial system might be divided into two components: the stock market and the banking system. This study tests the relationship …

Portugal restrictive, but Madeira comes to the rescuePortugal restrictive, but Madeira comes to the rescue
heinonline.org [PDF]
Financial system and economic growth are closely related, since a lot of decades this theme had been the subject of many research. As we know financial system might be divided into two components: the stock market and the banking system. This study tests the relationship …

The Results of the 1971 Reform of The Results of the 1971 Reform of
link.springer.com [PDF]
Financial system and economic growth are closely related, since a lot of decades this theme had been the subject of many research. As we know financial system might be divided into two components: the stock market and the banking system. This study tests the relationship …


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