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European Monetary System (EMS) |
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European Monetary System (EMS)A system adopted by European Community members with the aim of promoting stability by limiting exchange-rate fluctuations. The system was originated in 1979 by the nine members of the European Community (EC). The EMS comprised three principal elements: the European Currency Unit (ECU), the monetary unit used in EC transactions; the Exchange Rate Mechanism, ERM, whereby those member states taking part agreed to maintain currency fluctuations within certain agreed limits; and the European Monetary Cooperation Fund, which issues the ECU and oversees the ERM. The 1992 Maastricht Treaty provided for the move to Economic and Monetary Union (EMU) , including a European Monetary Institute to coordinate the economic and monetary policy of the EU, a European Central Bank (ECB) to govern these policies, and the presentation of a single European currency.European Monetary System (EMS) Similar MatchesEuropean Association of Securities Dealers Automated QuotationEuropean Association of Securities Dealers Automated QuotationEASDAQ was set up in 1996 as a pan-European stock market for technology and growth stocks. It now has about 60 companies listed with an average market capitalisation of £350m.UK investors can buy shares in companies listed on EASDAQ through a registered European broker. They are listed on the EASDAQ website - http://www.easdaq.com. European Currency UnitEuropean Currency UnitA weighted average of European Community currencies with weighting tending to be proportional to a country's economy. The ecu has been superseded by the euro. European Payments UnionEuropean Payments UnionAn international arrangement for settling payments among member countries in Europe during a period in which many of the countries' currencies were not convertible. The EPU functioned from 1950 to 1958, after which it was replaced by the EMA. European CommunityEuropean CommunityThe current community - current members are Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, Sweden and United Kingdom. Single European ActSingle European ActAct intended to eliminate barriers on trade and capital flows between and among European countries. Further SuggestionsEuropean Association of Securities Dealers Automated Quotation (EASDAQ)European Economic Community European Economic Area Central and Eastern European countries European Union (EU) European Currency Unit (ECU) Single European Act New European Exchange (NEWEX) European Options Exchange (EOE) European Central Bank (ECB) European Recovery Program European option European Free Trade Association European, Australia, and Far East index (EAFE index) European style exercise European Monetary System European Communities European Monetary System European style option European Monetary Agreement European exchange rate mechanism (ERM) European terms European Exercise |
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