The European Monetary Union (EMU) represents countries within the European Union that have agreed to have a common currency, the euro, and a common monetary policy. As of July 2008, 15 of the 27 countries that form the European Union were part of the EMU. The EMU is the culmination of the process that began in 1971. [Source: Encyclopedia of Business in Today's World; European Monetary Union]
European Monetary Union
regional economic integration
concepts