Definition of European Monetary Union in English:
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.
Definition of European Monetary Union in:
- British & World English dictionary
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