Seventy years ago, the European Union was created with the aim of economic and political unification of European countries, and by the decision of the European Council at the end of the 80s, the idea of a European monetary union was conceived, which would later result in the creation of the euro currency and the euro area, which was aimed at strengthening monetary policy. This paper will deal with the creation and analysis of the European monetary union, the development of the euro area and the third phase of the creation of the European monetary union—the introduction and sustainability of the euro as a European currency unit. The paper consists of six basic units, where the first part of the paper will define the concepts of the European monetary union and analyze the organization of monetary policy. The second part deals with the concepts of the Eurozone, the creation of the Eurozone, the importance of the European Central Bank and its influence on the sustainable stability of the Eurozone and the currency. The third part of the paper will be based on empirical analysis. The fourth part will analyze the examinees perception of the implementation of monetary policy, the impact of the introduction of a single value and how much it will affect the standard of living. In the fifth part, a brief overview of similar research conducted in the territory of the Republic of Croatia is given, while the last part refers to the conclusion of the work.