Over the past century, Europe as a geographical and political region faced many cultural, geographical, territorial, and growth changes. After two world wars, where the continent was devastated, the European Union (EU) is trying to create a powerful economic group in the world: the European Monetary Union (EMU). The economic benefits and costs (as well as risks) expected are indicated in the following topics (Taylor 1997). The expected economic benefits include: • savings in transaction costs from removing the need to convert currencies in cross-border transaction within the EU. • savings in search costs of acquiring information about prices normally quoted only in foreign currencies. • elimination of exchange rate uncertainty in cross-border trade and investment. The expected economic costs and risks include: • direct costs incurred by banks, all of whose information and accounting systems will need to be changed and adapted to operate dual-currency systems during at least three years in which the national currencies will circulate alongside the new currency. • psychological costs to individuals who will have to switch to a new monetary system and participate in the change process. • management of the changeover phase in an uncoordinated way by national bodies, which could create difficulties for the banks and monetary authorities and, at worst, bring the financial system to a temporary halt. Other researchers (Howdle 1996) indicate that the financial industry in EU will be significantly and negatively affected by EMU in the short and medium run. So, the study of information systems strategy in financial institutions assumes an important role in a microeconomic context in the paradigm shift to the EMU.