Economic and monetary union

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Economic and monetary union

An economic and monetary union is a single market with a common currency. It is to be distinguished from a mere currency union (e.g. the Latin Monetary Union in the 1800s), which does not involve a single market.

This is the fifth stage of economic integration.

EMU is established through a currency-related trade pact.

1 List of Economic and Monetary Unions
2 See also
3 External links

[edit] List of Economic and Monetary Unions

[edit] Current

The largest economic and monetary union at present is the Eurozone. The Eurozone consists of the European Union member states that have completed the third stage of the EMU by adopting the Euro. Some non-EU members have also adopted the Euro, but they are not part of this EMU. See also the Benelux union of Belgium, Holland and Luxembourg which pre-dates the European Union and continues to exist alongside it.

[edit] Proposed

Economic and monetary union of the Caribbean Community
Economic and monetary union of the Economic Community of West African States (ECOWAS)
Economic and monetary union of the East African Community (EAC), due in 2009
Economic and monetary union of the Gulf Cooperation Council (GCC), due in 2010
Economic and monetary union of the Southern African Development Community (SADC), due in 2016
Economic and monetary union of the Union of South American Nations (Unasul), due in 2019
Economic and monetary union of the African Economic Community (AEC), due in 2028