European Monetary Union is a result of economic integration processes in Europe, that started in 1946 with Winston Churchill's speech, in which he invited to creation of „United States of Europe“. Monetary Union is the highest stage of economic integration. It is an area without any payment restrictions, and currency exchange rates of member states are permanently fixed. Conditions for the formation of a monetary union are full liberalization of capital movements, integration of banking and financial markets of the Member States and the elimination of fluctuation in the movement of exchange rates through their irrevocable fixing. The common currency of the European Monetary Union is the euro. The process of introducing the euro took place in three stages. Instead of national characteristics, the front of the euro shows scenes with beautiful buildings, which symbolizes openness and freedom of the EU, while the two horizontal lines in the letter E make it clear that the euro is a symbol of currency stability. Joining the monetary union has its positive and negative sides. The biggest drawback of joining the monetary union is, that a member country loses its monetary sovereignty, but it also gets the possibility of rapid integration into international capital markets, transparency of prices and other.