The European Union (EU) faced this challenge with its Economic and Monetary Union (EMU). In the EMU, member countries share a common currency (the Euro) and coordinate their economic policies to ensure stability in the eurozone. However, this means that individual member countries have limited control over their own monetary and fiscal policies, as they are subject to EU regulations and oversight. This can make it difficult for a member country to enact economic policies that directly benefit itself, as they must consider the impact on the eurozone as a whole.
