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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 Economic AreaEuropean Economic AreaThe group of countries comprised of the EU together with EFTA. The two groups have agreed to deepen their economic integration. European, Australia, and Far East index (EAFE index)European, Australia, and Far East index (EAFE index)Stock index, computed by Stock index. European Monetary AgreementEuropean Monetary AgreementAn intergovernmental organization administered by the OECD that facilitated settlement of balance of payments accounts among its member states from 1958 to 1972. It replaced the EPU, and its functions were taken over by the IMF in 1972. New European Exchange (NEWEX)New European Exchange (NEWEX)A trading market for Central and East Eurpoean securities established by the Deutsche Börse (German Stock Market) and the Wiener Börse (Austrian Stock Market) in 2000. European exchange rate mechanism (ERM)European exchange rate mechanism (ERM)The system that countries in the European Union once used to pay exchange rates within bands around an ERM central value. Further SuggestionsEuropean Payments UnionEuropean Exercise European terms European Economic Community European Union (EU) European option European Communities European Free Trade Association European Monetary System European style exercise European Monetary System European style option European Currency Unit (ECU) European Central Bank (ECB) European Association of Securities Dealers Automated Quotation (EASDAQ) European Currency Unit European Recovery Program European Association of Securities Dealers Automated Quotation European Community Central and Eastern European countries European Options Exchange (EOE) Single European Act Single European Act |
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