In 1992,the European Union decided to create an economic as well as a monetary union involving the introduction of

Name: In 1992,the European Union decided to create an economic as well as a monetary union involving the introduction of
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The creation of an economic and monetary union in 1992 involved the introduction of a single European currency managed by a European central bank. This currency is known as the euro, which replaced many of the national currencies of EU member states.

In 1992,the European Union Decided to Create an Economic as Well