Title English:
European Monetary System
Acronym English:
EMS
Definition English:
European Monetary System (EMS) was an arrangement established in 1979 under the Jenkins European Commission where most nations of the European Economic Community (EEC) linked their currencies to prevent large fluctuations relative to one another. After the demise of the Bretton Woods system in 1971, most of the EEC countries agreed in 1972 to maintain stable exchange rates by preventing exchange rate fluctuations of more than 2.25% (the European "currency snake"). In March 1979, this system was replaced by the European Monetary System, and the European Currency Unit (ECU) was defined.
Title Arabic:
نظام النقد الأوروبي
Domain:
International Instruments
Subject:
Corporate Names/Bodies
Provenance:
Belgium
InformationType:
Title
SourceSymbol:
E/2009/16
Link: