The North American currency union is a theorize economic and monetary union of the three principal countries of North America, namely Canada, the United States, and Mexico. Implementation would probably involve the three countries giving up their current currency units (Canadian dollar, U.S. dollar, and Mexican pesos) and adopting a new one, created specifically for this purpose. 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 NAFTA and the SPP. Conspiracy theorists contend that the governments of the United States, Canada, and Mexico are already taking steps to implement such a currency. No current members of any country's government have stated a desire to implement a "North American Union".