Germany was the first country to adopt the euro as its official currency on January 1, 1999.

The European Central Bank (ECB) is the central bank of the EMU and is responsible for setting monetary policy for the eurozone.

As of 2023, there are 19 countries that are members of the EMU.

The euro is the common currency used by the EMU countries.

The main goals of the EMU are to maintain price stability, promote economic growth, and achieve full employment.

The Maastricht Treaty, signed in 1992, established the EMU.

The Stability and Growth Pact is the mechanism that ensures that the eurozone countries meet the criteria for membership in the EMU.

The Exceptional Circumstances Clause is the mechanism that allows for the temporary suspension of the Stability and Growth Pact rules in exceptional circumstances.

The European Stability Mechanism (ESM) is the mechanism that provides financial assistance to eurozone countries experiencing financial difficulties.

The Eurogroup is the mechanism that coordinates the economic policies of the eurozone countries.

The Single Resolution Mechanism (SRM) is the mechanism that provides a framework for the resolution of financial crises in the eurozone.

The Single Supervisory Mechanism (SSM) is the mechanism that ensures that banks in the eurozone have sufficient capital and liquidity to withstand financial shocks.

The Capital Markets Union (CMU) is the mechanism that aims to create a single market for financial services in the EU.

The Banking Union is the mechanism that aims to strengthen the resilience of the eurozone banking sector.

The European Semester is the mechanism that aims to promote financial integration and stability in the EU.