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The Economic and Monetary Union (EMU) is one of the most significant projects of European integration, representing a major step in the political and economic unification of the European Union. It is a framework designed to coordinate the economic and monetary policies of EU member states, with the ultimate aim of fostering stability, growth, and deeper integration across the continent. The EMU embodies both economic cooperation and monetary integration, combining the coordination of fiscal and economic policies with the adoption of a common currency, the euro, by participating states. While not all EU members are part of the eurozone, the EMU serves as a broader structure within which varying degrees of economic and monetary alignment are achieved. The foundations of the EMU can be traced back to the Treaty of Rome in 1957, which established the European Economic Community and laid the groundwork for closer economic cooperation. The vision for a monetary union began to take shape in the 1970s with the Werner Report, but progress was slow due to economic turbulence and divergent national priorities. The decisive moment came _____ ______ ___ ________ _______ ___ __________.
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