European Monetary System

European Monetary System

Finance > Monetary relations
Finance > Monetary economics > Economic and Monetary Union
European Union > EU finance > EU financing > EU financial instrument
Agriculture, Forestry And Fisheries > Agricultural policy > Common agricultural policy > Agri-monetary policy > Representative rate
European Union > EU finance > EU financing > EU financial instrument > EU loan

European Monetary System

Eurovoc reference

4370 European Monetary System

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Alternative Concepts

  • EMS
  • Monetary snake

History

Replaced by ERM II (exchange rate mechanism II) at the start of Stage Three of economic and monetary union (EMU) on 1 January 1999 when the single currency was launched.

Definition

The European Monetary System, abbreviated as EMS, was an exchange rate regime set up in 1979 (and which ended in 1999) to foster closer monetary policy co-operation between the central banks of the Member States of the European Economic Community (EEC). The objective of the EMS was to promote monetary stability in Europe. The European Monetary System was built on the concept of stable but adjustable exchange rates defined according to the newly created European currency unit (ECU) – a currency basket based on a weighted average of EMS currencies. Within the EMS, currency fluctuations were controlled through the Exchange Rate Mechanism (ERM). Source: Eurostat. Available at: <a href=

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Properties and Values of European Monetary System

  • URI https://en.legalthesaurus.org/european-monetary-system/
  • skos:Concept: https://en.legalthesaurus.org/european-monetary-system/

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[rtbs name=”thesaurus-lawi”][rtbs name=”microthesauri”][rtbs name=”skos”][rtbs name=”thesaurus-eurovoc”]

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