North American monetary union

The North American monetary union is a theoretical economic and monetary union of three North American countries: Canada, the United States and Mexico.

Implementation would involve the three countries giving up their current currency units (U.S. dollar, Canadian dollar, and Mexican peso) and adopting a new one, created specifically for this purpose (some versions of the theory, particularly those circulating in Canada, assume only the United States and Canada would be included). The hypothetical currency for the union is most often referred to as the amero. The concept is modeled on the common European Union currency (the euro), and it is argued to be a natural extension of the North American Free Trade Agreement (NAFTA) and the Security and Prosperity Partnership of North America (SPP).