e U.S.
CREATION OF THE EUROPEAN MONETARY UNION
European integration goes as far back as 1951 with the European Coal
and Steel Community. This was a common market in coal, iron, and steel
products joining Belgium, Germany, France, Italy, Luxembourg, and the
Netherlands together. After 50 years and four waves, the European Union has
continually grown to its current 15 country membership. Following the first six
countries, were in 1973, Denmark, Ireland and the United Kingdom. In 1981
Greece entered, 1986, Spain and Portugal and in 1995, Austria, Finland and
Sweden. The EU is progressing with a fifth enlargement soon aimed towards the
countries in Eastern and Southern Europe. With the introduction of the Euro, this
completed the final stage of the EMU, which origins go back to March of 1957.
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