What is the Economic and Monetary Union (EMU)?
The term ‘EMU’ means a single currency for a single market. Between 1987-1992, the EU established a single market within its borders. After 1992, capital and labor could both move freely within the EU. More specifically, EMU refers to two principle changes currently taking place within the EU: • The change from a system of separate national currencies, separate national central banks, and separate national monetary policies to a single European currency (the Euro), a single European system of central banks, and a single European monetary policy. • The removal of all barriers to the movement of capital within the European Single Market. Sources & Further Information: • Quest: A large database of questions and short answers concerning the EMU, maintained by the EU. Link: europa.eu.int/euro/quest/normal/frame.htm?language_nb=5. This information is also available on CD-ROM from the EU Delegation • ECB web site: Contains links to all the EU central banks and daily euro foreign exchange refe
