Money as a Means of Forming and Ensuring National Identity and Sovereignty

Abstract

The article analyzes currency and banknotes as instruments of forming state identity and sovereignty amid globalization. The author considers money not only as an economic tool but also as a symbolic resource reflecting the state’s autonomy. Three key factors of monetary sovereignty are specified: the existence of a national currency, the capacity for its issuance, and the prestige of the national monetary unit. Via the example of the euro, the article demonstrates how abandoning a national currency can weaken monetary sovereignty. The experience of partially recognized states is featured as well, where issuing a national currency serves as an act of self-affirmation. Special attention is given to banknotes as bearers of symbols and historical memory. The study concludes that money represent a crucial instrument for national interests expression and state identity formation.