A European Union program intended to work toward full economic unity in Europe based on the phased introduction of a common currency (originally, the ECU). The program was announced in 1989; the second stage came into effect on January 1, 1994 under the terms of the Maastricht Treaty, and in 2002 the euro replaced the currencies of twelve European Union countries.
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Syllabification: Eu·ro·pe·an Mon·e·tar·y Un·ion
Definition of European Monetary Union in:
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