This document is an excerpt from the EUR-Lex website
Glossary of summaries
ECONOMIC AND MONETARY UNION (EMU)
EMU is the process of harmonising EU countries' economic and monetary policies with a view to the introduction of a single currency, the euro. It took place in 3 stages:
As of January 2015, the euro is the currency of 19 of 28 EU countries.
Since the 2008 crisis, the EU has greatly strengthened its economic governance systems to better detect, prevent, and correct problematic economic trends such as excessive government deficits, public debt levels or macroeconomic imbalances.