Economic and monetary union and the euro. For stability, growth and prosperity across Europe

Summary:

This publication is a part of a series that explains what the EU does in different policy areas, why the EU is involved and what the results are.

Further information:

The Maastricht Treaty launched the economic and monetary union (EMU) and, at the same time, committed the European Union ‘to continue the process of creating an ever closer union among the peoples of Europe’. The EMU required deeper integration at policy level and thus closer political integration.

While the economic and monetary union applies to all EU countries, a number of specific rules apply to euro area countries given the fact that they share a common currency. Beyond its economic dimension, the euro is a powerful, tangible symbol of European unity, identity and cooperation.

The euro is part of the everyday life of EU citizens from 19 different countries. It has been in circulation since 2002 and is used by over 337 million people for their daily requirements, to save for tomorrow and to invest in the future. It is now the most important currency in the world after the US dollar. There is no other example of such deep and large-scale monetary cooperation between sovereign countries.

• Primary Source

European Commission: DG Communication: Economic and monetary union and the euro. Fostering stability, growth and prosperity across Europe [October 2012] https://publications.europa.eu/en/publication-detail/-/publication/b953e21b-a68b-42ec-b6d8-023dcccecceb

European Commission: DG Communication: Economic and monetary union and the euro. For stability, growth and prosperity across Europe [March 2014] https://publications.europa.eu/en/publication-detail/-/publication/efb1a4da-5583-4b4d-9cf2-4477e7d9426b

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