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European Monetary System |
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European Monetary SystemArrangement to coordinate monetary policy and exchange rates in the countries of the European Community. It was launched in March 1979, based on the Exchange Rate Mechanism (ERM), but ceased to function with the advent of the euro as the single European currency. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| The value of the euro in relation to other currencies, including the dollar, will not be known until January 1, 1999, but it is likely to be near the value of the European currency unit (ECU), which is now about $1. Kneppeck said his parents aren't pleased with what they see as Germany losing its identity when it joined the European Union and abandons the Deutschmark for the European Currency Unit. The European Currency Unit (ECU), or euro, would be nothing but the Deutsche Mark in disguise, says Laughland. |
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