The Economic and Monetary Union (EMU) is an essential part of the European integration process. The EMU contributes to economic stability, balanced economic growth, high employment and sustainable public finances in the Member States. As its name suggests, the EMU is composed of two main elements: economic policy (the coordination of Member States’ national economic and fiscal policies) and monetary policy (which involves using the single currency (the euro) and the pooling of sovereignty over monetary policy).
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