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1. Oxford American Dictionary

   European Monetary Union

   • IPA[ˌyo͝orəˌpēən ˌmənəterē ˈyo͞onēən]

   美式

   • ph.
     a European Union program intended to work toward full economic unity in Europe based on the phased introduction of a common currency (originally, the ECU). The program was announced in 1989; the second stage came into effect on January 1, 1994 under the terms of the Maastricht Treaty, and in 2002 the euro replaced the currencies of twelve European Union countries.