Fiscal Union

A fiscal union is an agreement among regions or countries to coordinate their economic policies, particularly regarding taxation and government spending. It typically involves shared financial systems to ensure that resources are distributed fairly and that all members can support their economies effectively. In a fiscal union, member states might share a common budget or have mutual agreements to help each other during economic downturns, similar to how family members might pool resources for common needs. This can strengthen economic stability and cooperation but may also require some sacrifice of individual financial autonomy.