European Monetary Union (EMU)

The European Monetary Union (EMU) is an economic and monetary union of 19 of the 28 member states of the European Union (EU). The EMU was established in 1999 and is composed of the euro currency and the European Central Bank (ECB). The EMU is the largest and most advanced monetary union in the world, and it is the second largest economic union in the world after the United States. The EMU is a major part of the European Union’s economic and political integration.

History of the European Monetary Union

The European Monetary Union was established in 1999 as part of the Treaty of Maastricht. The Treaty of Maastricht was signed in 1992 and was the first step in the process of economic and monetary union. The Treaty of Maastricht set out the framework for the creation of the EMU, including the establishment of the euro currency and the European Central Bank. The euro was officially launched in 1999 and the first euro coins and notes were issued in 2002. Since then, the euro has become the official currency of 19 of the 28 member states of the European Union.

Comparison of the EMU and Other Economic Unions

Summary

The European Monetary Union (EMU) is an economic and monetary union of 19 of the 28 member states of the European Union (EU). The EMU was established in 1999 and is composed of the euro currency and the European Central Bank (ECB). The EMU is the largest and most advanced monetary union in the world, and it is the second largest economic union in the world after the United States. For more information about the EMU, please visit the European Central Bank website or the European Commission website.

See Also

• European Central Bank
• European Commission
• Treaty of Maastricht
• Euro
• Economic and Monetary Union
• European Union
• African Monetary Union
• United States
• US Dollar
• African Franc

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