European Monetary System (EMS) - Financial definition
Financial acronyms
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Concise definition of the term European Monetary System
The European Monetary System was an arrangement put in place in 1979 where most nations of the European Economic Community linked their currencies to prevent large exchange rate fluctuations amongst them.
Comprehensive definition of the term European Monetary System
The EMS was replaced by the European Economic and Monetary Union, which established the euro as a common currency.