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  1. Oxford Dictionary

    European Monetary Union

    • IPA[ˌjʊərəpiːən ˌmʌnɪtrɪ ˈjuːnjən]

    英式

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