Economic and Monetary Union (EMU)
20 hours agoThe Economic and Monetary Union (EMU) refers to a set of policies designed to align the economies of European Union member states.
The European Council made the decision to establish an Economic and Monetary Union in December 1991 in Maastricht, Netherlands, which was subsequently formalized in the Treaty on European Union, commonly known as the Maastricht Treaty.
EMU represents a significant advancement in the EU's journey toward economic integration, a process that began in 1957 with the establishment of the union.
This economic integration yields advantages such as increased size, improved internal efficiency, and enhanced resilience for both the EU economy as a whole and the individual economies of its member states.
As a result, it creates opportunities for economic stability, accelerated growth, and increased employment—benefits that directly impact EU citizens.
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