Economic term referring to an agreement between countries to share a single currency and monetary policy. Often contrasted with 貨幣同盟 (かへいどうめい), which may imply a narrower focus on coinage or a historical union.
See also: 貨幣同盟 (かへいどうめい)
The eurozone is an example of a monetary union.
To join a monetary union, strict economic criteria must be met.