The Economic and Monetary Union (EMU) is a group of European Union (EU) member states that have adopted a common currency, the euro, and coordinate their economic policies. The EMU aims to promote economic stability, growth, and integration among its members, facilitating trade and investment across borders. The EMU consists of two main components: the Economic Union, which involves harmonizing economic policies, and the Monetary Union, which focuses on the management of the euro by the European Central Bank. This structure helps ensure that member countries work together to maintain price stability and support sustainable economic development.