Question: What is the European region 's monetary union partitioned into ?

text: Economic and monetary union
List of economic and monetary unions -- Proposed

An economic and monetary union (MCU) is a type of trade bloc that features a combination of a common market, customs union, and monetary union. Established via a trade pact, an MCU constitutes the sixth of seven stages in the process of economic integration. An MCU agreement usually combines a customs union with a common market. A typical MCU establishes free trade and a common external tariff throughout its jurisdiction. It is also designed to protect freedom in the movement of goods, services, and people. This arrangement is distinct from a monetary union (e.g., the Latin Monetary Union), which does not usually involve a common market. As with the economic and monetary union established among the 28 member states of the European Union (EU), an MCU may affect different parts of its jurisdiction in different ways. Some areas are subject to separate customs regulations from other areas subject to the MCU. These various arrangements may be established in a formal agreement, or they may exist on a de facto basis. For example, not all EU member states use the Euro established by its currency union, and not all EU member states are part of the Schengen Area. Some EU members participate in both unions, and some in neither. Territories of the United States, Australian External Territories and New Zealand territories each share a currency and, for the most part, the market of their respective mainland states.
Community Currency Region Target date Notes
Economic and Monetary Community of Central Africa ( CEMAC ) Central African CFA franc Africa  Not yet functioning common market
West African Economic and Monetary Union ( UEMOA ) West African CFA franc Africa  Not yet functioning common market
Gulf Cooperation Council ( GCC ) Khaleeji Middle East  Possibly gold backed , but postponed due to the financial crisis of 2007-2008
East African Community ( EAC ) East African shilling Africa 2015 To be used by the future East African Federation
Caribbean Single Market and Economy ( as part of the CARICOM )  Latin America /Caribbean 2015 To supplement the OECS Eastern Caribbean Currency Union
Southern African Customs Union ( SACU ) South African Rand Africa 2015 de facto for the CMA member when the SADC economic union is established
Southern African Development Community ( SADC ) South African Rand ( interim proposal ) Africa 2016 To supplement or succeed the CMA and Southern Africa Customs Union
South Asian Association for Regional Cooperation  South Asia 2016
Union of South American Nations ( UNASUR ) Latino Latin America /Caribbean 2019
Economic Community of Central African States ( ECCAS )  Africa  To supplement the Economic and Monetary Community of Central Africa ( CEMAC )
Economic Community of West African States ( ECOWAS )  Africa 2020 To succeed UEMOA and WAMZ
African Economic Community  Africa 2028 See African Monetary Union
Union State of Russia and Belarus Russian ruble Europe
Arab League Arab Dinar Arab states  Arab Dinar has been proposed ever since the creation of the Arab Monetary Fund , expected for serious plans of doing so , after the creation of the proposed Arab Union
Eurasian Economic Union Altyn Eurasia 2025 Kazakhstani President Nursultan Nazarbayev had first proposed , in 2009 , the creation of a common noncash currency called yevraz for the Eurasian Economic Community . It would have reportedly helped insulate the countries from the global economic crisis . In 2012 , the idea of the new joint currency found support from Vladimir Putin and Dmitry Medvedev and by 2014 proposals were drafted in Eurasian Commission documents for the establishment of a Eurasian Central Bank and a common currency to be called the altyn which is to be introduced by 2025