Öz Economic and monetary union EMU represents the most important change in the global economic system since the collapse of the Bretton Woods system of fixed exchange rates in the early 1970s. EMU, also, includes the establishment of a common stability-oriented macroeconomic policy framework and reinforced cooperation in a wide range of economic policy fields. With the launch of the euro on January 1999, and the introduction of euro notes and coins on January 2002, the European Union has achieved a long-standing ambition to cement to closer economic integration with a single currency. EMU, or as called Euro Area, is a tangible reality in 12 countries with a combined population of about 310 million pople and accounting for around one-sixth of global output. In this paper, it is examined the economic improvements and assessed macroeconomic performance in the early years of Euro Area.