Definition of European Monetary Union in English:

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European Monetary Union

Pronunciation: /ˌjʊərəpiːən ˌmʌnɪtri ˈjuːnjən/
(abbreviation EMU)
A European Union programme intended to work towards full economic unity in Europe based on the phased introduction of a common currency (the euro). The programme was announced in 1989; the second stage came into effect on 1 January 1994 under the terms of the Maastricht Treaty, and in 2002 the euro replaced the currencies of twelve European Union countries (see euro1).
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