Agreements and institutions that regulated the relationships between the currencies of the main countries of the EU from March 1979 until the implementation of the euro. Its objective was to establish a zone of monetary stability that facilitated trade by avoiding violent fluctuations and favored economic integration. Its main elements were the ECU, a common measuring instrument, the monetary snake that set the limits of fluctuation, and a policy of relations with third countries.
« Back to Glossary IndexEuropean Monetary System (EMS)
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