Economic and Monetary Union (European Union)

The Economic and Monetary Union (EMU) is a key aspect of the European Union (EU) that aims to unify member countries’ economies and currencies. It involves the adoption of a single currency, the euro, by many EU nations, allowing for easier trade and investment. The EMU also includes coordinated economic policies and fiscal rules to ensure stability and growth. This strengthens economic ties among member states, promotes financial stability, and simplifies transactions across borders, while maintaining some controls at the national level. Overall, the EMU seeks to enhance economic integration within Europe.