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Economic and monetary affairs

The economic and monetary union refers to the close coordination of the economic policies of the European Union (EU) Member States at European level, with 19 Member States having gone further in adopting the euro as their currency. Under the framework of the European semester, Member States coordinate their economic policies to promote economic growth, employment, stable public finances and financial stability. The relevant background to the economic and monetary union can be found in the Treaty on the Functioning of the European Union (Title VIII on economic and monetary policy).

Following the COVID-19 pandemic, new policies and instruments have been designed to help the European economy emerge from the crisis more resilient and better prepared for the green and digital transitions.