EMU and the euro

The Economic and Monetary Union abbreviated as EMU is a system of economic and monetary cooperation in the EU, in which the member countries share a single currency, the euro, and a common monetary policy.

EMU has three stages. All EU countries participate in EMU. In the referendum on 14 September 2003 Sweden voted against the introduction of the euro. Approximately 56 per cent of the voters voted against the euro while approximately 42 per cent voted in favour.