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  5. European Monetary Union

European Monetary Union

Definition of 'European Monetary Union'

A single currency with a single central bank having control over interest rates being created for those EU member states which join. The process of moving towards a monetary union began in 1999.

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Related Terms

EMUEuropean CommunityEuropean CommissionEuropean Single MarketTrade UnionEMSEuropean Monetary InstituteMaastricht TreatyAssisted AreaEuropean Central BankEuropean Exchange Rate MechanismEuropean Free Trade AssociationECBEuropean Monetary SystemEuropean Coal and Steel CommunityCapital Adequacy Directive (CAD)Accommodatory Monetary PolicyIMMMoney MultiplierAmerican Style Option

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