European Economic and Monetary Union Definition

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European Economic and Monetary Union

Definition

EMU. A monetary union in Europe which succeeded the European Monetary System. This union began to take effect in 1990, over a series of three steps. The first step abolished individual member exchange rate control, the second step established the European Central Bank, and the third step created the Euro as the common currency.

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European Economic and Monetary Union is in the Banking and Forex subjects.

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