European Monetary Union

The European Monetary Union (EMU) is a group of European Union countries that have adopted a common currency, the euro (€), to enhance economic stability and facilitate trade. Established in the late 1990s, the EMU aims to create a unified economic framework, allowing member states to coordinate their monetary policies. By using the euro, member countries can eliminate currency exchange costs and encourage investment. However, this also means they share monetary policy decisions, which can impact each country's individual economy. EMU underscores the balance between economic integration and national sovereignty within Europe.