Economic and monetary union

Established via a trade pact, an EMU constitutes the sixth of seven stages in the process of economic integration.

During this time, the main member presiding over this decision was Pierre Werner, Prime Minister of Luxembourg.

[3] The first responsibility is to be in charge of implementing effective monetary policy for the euro area with price stability.

There is a group of economists whose only role is studying how to improve the monetary policy while maintaining price stability.

Maintaining price stability is a long-term goal for all states in the EU, due to the effects it might have on the Euro as a currency.

The member countries respect the decisions made by the EMU and ensure that their actions will be in favor of a stable market.

Stages of economic integration around the World (each country colored according to the most integrated multilateral agreement that it participates in):
Economic and monetary union ( ECCU / XCD , Eurozone / EUR , Switzerland–Liechtenstein / CHF )
Economic union ( CSME , EAEU , EU , GCC , Mercosur , SICA )
Common market ( EEA –Switzerland )
Customs and monetary union ( CEMAC / XAF , UEMOA / XOF )
Customs union ( CAN , EAC , EUCU , SACU )
Multilateral free-trade area ( AANZFTA , ASEAN , CEFTA , CISFTA , COMESA , CPTPP , EFTA , GAFTA , PAFTA , RCEP , SADCFTA , SAFTA , USMCA )