Business / Agriculture / European Monetary Union (EMU): As agreed in the Maastricht Treaty, 11 European Union members began participating in the EMU on January 1, 1999. The 11 countries are Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain. The other four countries - the United Kingdom, Denmark, Sweden, and Greece - 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.
Monetary Noun Synonyms: pecuniary, cash, money, fiscal, financial, capital, numismatic, nummular, nummary
Union Adjective Synonyms: uniting, unity, combining, combination, joining, junction, conjoining, conjunction, allying, alliance, associating, association, coalition, amalgamating, amalgamation, fusing, fusion, marrying, marriage, confederating, confederation, confederacy, synthesi
Business / Finance / European Central Bank (ECB): European equivalent of NASDAQS. MORE
Business / Finance / Monetary Indicators: Economic indicators of the effects of monetary policy, such as the condition of the credit market. MORE