This document discusses the history and development of economic and monetary policy coordination within the European Union. It outlines key events like the establishment of the Euro, adoption of the Stability and Growth Pact in 1997 to enforce fiscal discipline, and subsequent reforms to the Pact. It also describes the EU's economic governance framework, including the division of competencies between the EU and member states in economic policy, monetary union rules like the no-bailout clause, and coordination of fiscal and monetary policies. The long-term goal of further political and economic integration within the EU toward a federal model remains an unfinished project.