TeachMeFinance.com - explain European Monetary Union (EMU)
European Monetary Union (EMU) The term 'European Monetary Union (EMU) ' as it applies to the area of agriculture can be defined as ' either chose not to participate at this time, or did not meet the economic criteria. Under the EMU, the 11 countries have a common central bank (the European Central Bank), and thus a common monetary policy, similar to that of the U.S. Federal Reserve System, and a single currency, called the euro'.
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