Publications Office of the European Union

Economic and Monetary Union (EMU)

The Economic and Monetary Union (EMU) is a major step in the integration of the of EU Member States’ economies. It set out the coordination of economic and fiscal policies, a common monetary policy, and a common currency, the Euro. Its benefits include among others, a stable currency, low inflation and interest rates, elimination of currency exchange costs, more integrated financial markets, price transparency and a stronger voice for the EU in the global economy.

The Euro itself turned 20 on 1 January 2019 and today it is the currency of 19 EU countries, over 340 million EU citizens and the second most important currency in the world.