The European Monetary Union further integrates the economy of the European Union. In this moment, the European Union has 27 full member states, of which 19 participate in the monetary union, i.e. the eurozone. The establishment of the monetary union was intended to increase the efficiency of the economy of the European Union, but also of the economies of each member state, to enable greater economic stability, higher growth and more employment. In order for a member state of the European Union to become part of the monetary union, i.e. the eurozone, it is necessary to meet the appropriate criteria in advance. The topic of this paper is "Creation of the European Monetary Union" and the reasons for the creation of the European Monetary Union, the development of the European Monetary Union, the state of the European Monetary Union and the experiences of the members of the European Monetary Union will be presented below.