European Monetary Union


Definitions of European Monetary Union


an arrangement by which countries within the European Union use similar economic policies and a single currency (the euro)

The UK was under pressure to devalue the pound before joining the European Monetary Union.


the euro area/the Eurozone/Euroland (INF) (=the group of countries that use the euro as a currency)

British people are becoming less skeptical about EMU membership and more willing to give up the pound.