Above all, economic and monetary union means just that two unions, monetary and economic.

Toward a Genuine Economic and Monetary Union?

The African Monetary Union is the proposed creation of an economic and monetary union for the countries of the African Union, administered by the African Central Bank.

Ever closer union means an EU that moves ineluctably from economic and monetary union to banking union, then to fiscal union, and finally to political union.

On the economic front, they agreed on only a bare bones Economic and Monetary Union built around monetary rectitude and an unenforceable promise of fiscal discipline.

The West African Economic and Monetary Union reported that road transport remained the main mode of transport in the Economic and Monetary Union region, accounting for more than 90 per cent of trade within the subregion.

Moving towards a genuine Economic and Monetary Union will also require more fundamental institutional reforms.

But the crisis confronting Europe is not so much about political union as it is about European Economic and Monetary Union.

The member States of the Economic and Monetary Union decided in the Community Infrastructure and Road Action Programme of the Economic and Monetary Union, which was adopted in 2001, to reconstruct or rehabilitate 13,300 km of road infrastructure.

Europe s leaders now agree on a vision of what the EU should become an economic and monetary union complemented by a banking union, a fiscal union, and a political union.

PARIS The creation of Europe s economic and monetary union is unique in the history of sovereign states.

The EU s Economic and Monetary Union was a means to an end, not an end in itself.

Cooperation on matters related to the EU s Economic and Monetary Union (discipline and solidarity) should be obligatory.

There is an alternative an economic growth strategy supported by the European Union and the International Monetary Fund.

CAMBRIDGE The European Economic and Monetary Union (EMU) and the euro are about to celebrate their tenth anniversary.

A single currency means a single monetary policy and a single interest rate, even if economic conditions particularly cyclical conditions differ substantially among the member countries of the European Economic and Monetary Union (EMU).

Europe is in the midst of a crisis whose root cause is a structurally flawed monetary and economic union.

None of these risks implies that the monetary union will inevitably be a victim of this severe economic downturn.

Stability and Prosperity in Monetary Union

As the eurozone experience proves, sustaining a monetary union requires banking, fiscal, and full economic union. And, once members give up their sovereignty over fiscal, banking, and economic affairs, they may eventually need a partial political union to ensure democratic legitimacy.

Historically, monetary union was regarded as the route to political union.

MILAN The late Milton Friedman said that a common currency that is, a monetary union cannot be sustained without a deep form of economic and political union.

Union Économique et Monétaire Ouest Africaine (West African Economic and Monetary Union). The members are Benin, Burkina Faso, Côte d'Ivoire, Guinea Bissau, Mali, Niger, Senegal and Togo.

BRUSSELS For a year, European policymakers have been busy fixing bugs in the design of Economic and Monetary Union (EMU).

The EU needs some fiscal authority of its own if it is to make Europe s economic and monetary union work.

In other words, Europe s decision makers ultimately overlooked the basic requirements of a monetary union in a heterogeneous economic area

The Central African Economic and Monetary Union (CEMAC), with six countries and an estimated 30 million people, is taking off.

Monetary union without banking, fiscal, and political union has been a disaster.

Europe s monetary union has worked remarkably well.

The premier and oldest of these unions is composed of the fourteen countries that belong to the Economic and Monetary Community of Central Africa and the West African Economic and Monetary Union, which both use the CFA franc.

Helmut Kohl, one of the euro s principal parents, said in 1991 that the idea of sustaining an economic and monetary union over time without political union is a fallacy.

But, to make the eurozone work, monetary unification should extend to the fiscal and financial fields, thereby creating an integrated economic union.

The French argued for European economic governance alongside the monetary union, but that looked to others as imposing too much French planisme .

The difference, it was argued, was monetary union.

The country qualified for the Economic and Monetary Union of the European Union (EMU) in 1998 and joined with 10 other European countries in launching the euro on 1 January 1999.

This peculiar arrangement is a further major risk for economic and monetary union, to add to those of uncoordinated fiscal policies and the lack of a European equivalent of the International Monetary Fund.

One camp argued that it would be reckless to create a monetary union before economic policies had converged and institutional reforms were complete.

The Commission of the Economic and Monetary Union has undertaken a feasibility study on the interconnection and rehabilitation of rail networks within Community States.

Monetary union without banking union will not work, and a workable banking union requires at least some elements of fiscal and political union.

There is no easy answer. But it is time for the franc zone s two leading regional groupings the West African Economic and Monetary Union and the Central African Economic and Monetary Community to begin playing a decisive role in overhauling the franc zone s architecture.

Member jurist of the Regional Council for Public Savings and Financial Markets (CREPMF) of the West African Economic and Monetary Union (WAEMU) since January 2003

But the difficult negotiations that led to the agreement eclipsed European Council President Herman Van Rompuy s recent report, Towards a Genuine Economic and Monetary Union, which calls for unity far beyond a banking union.

In fact, the monetary union has become a political and economic nightmare, plagued by recession, record high unemployment, social unrest, and rising distrust among member states.

Whether monetary union was necessary to accomplish that aim is debatable.

Its internal debates highlighted two problems of the potential monetary union.