History of the economic and monetary union
EU Fact Sheets
14-12-2023
The economic and monetary union (EMU) is the result of economic integration in the EU. A common currency, the euro, has been introduced in the euro area, which currently comprises 20 EU Member States. All EU Member States – with the exception of Denmark – must adopt the euro once they fulfil the convergence criteria. A single monetary policy is set by the Eurosystem, comprising the European Central Bank’s Executive Board and the governors of the central banks of the euro area.
EU Fact Sheets