Economic Policy Coordination: Foundations, Structures, and Objectives

Abstract The Treaty on European Union (TEU) provides, in its Article 3(4), that ‘[t]he Union shall establish an economic and monetary union whose currency is the euro’. This Economic Monetary Union (EMU) finds its origin in the Treaty of Maastricht of 7 February 1992. As part of this EMU, the core provisions framing the economic policy coordination of the Union are included in the Treaty on the Functioning of the European Union (TFEU) amongst the other internal Union policies. Consequently, the so-called ‘Community method’ fully applies in this field.