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EU Q's and Info 2
Do you have a question about the European Union? Then ask it here! Simply mail your query to:

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Economic and Monetary Union (EMU) is a single currency area within the European Union single market. In this area people, goods, services and capital can move without restrictions. It creates the framework for economic growth and stability and is underpinned by an independent central bank.

As trade between the EU Member States reaches 60% of their total trade, EMU is the natural complement of the single market. This market will work more efficiently and deliver its benefits more fully with the removal of high transaction costs brought about by currency conversions and the uncertainties linked to excahnge rate instability. The rules, institutions and objectives of EMU are set down in the Maastricht Treaty.

For more detailed information, see:

www.europa.eu.int
What is the Economic Monetary Union?

Annukka Sumani, Helsinki, Finland
The Euro is the single currency of the European Monetary Union, which was adopted by 11 Member States from 1 January 1999. The 11 Member States are Belgium, Germany, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland. Greece became the 12th Member State to adopt the Euro on 1 January 2001.

On the 1 January 2002, Euro notes and coins will replace notes and coins in national currencies, which will be withdrawn by the end of February at the very latest. From then, the national currency will no longer be valid for everyday use, but you will be able to exchange your old banknotes for Euro banknotes long after this date and the national central banks.

For more detailed information see:

www.europa.eu.int/euro
What is the Euro?

Nicole Kozlowski, Cambridge Mass. USA
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