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European Monetary Union

   Also found in: Medical, Acronyms, Encyclopedia, Wikipedia, Hutchinson 0.02 sec.
European Monetary Union
An agreement by participating European Union member countries that includes protocols for the pooling of currency reserves and the introduction of a common currency.

European Monetary Union
n
(Economics, Accounting & Finance / Currencies) the agreement between members of the European Union to establish a common currency. The current participating members are Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain Abbreviation EMU


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Germany being a member of European Monetary Union does not change the argument.
1, include a European Emerging Markets Fund, meant to capitalize on European investment in the economies of 10 Eastern European countries that were accepted into the European Monetary Union in December.
In that sense, the European monetary union is not monetary progress; it is political progress confirming the triumph of Monnet's pioneering vision.
 
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