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The EU 7th Research Programme (FP7) EuroAfrica-ICT Cooperation ...

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7<strong>The</strong> Economic & Monetary Union (EMU) / <strong>The</strong> €<strong>The</strong> Economic & Monetary Union (EMU) / <strong>The</strong> Euro• <strong>The</strong> euro is the single currency of the <strong>EU</strong>• <strong>The</strong> euro has been adopted for non-cash transactions from 1999 & for all payments in 2002when euro notes & coins were issued• 3 countries (Denmark, Sweden and the UK) are not participating in this monetary union• <strong>The</strong> new member countries are getting ready to enter the euro area as soon as they fulfil thenecessary criteria• In parallel with the objective of monetary stability (which is the responsibility of the EuropeanCentral Bank) the member States are committed to higher growth & economic convergence<strong>EuroAfrica</strong>-<strong>ICT</strong> (248376) <strong>FP7</strong> ProjectApril 2010

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