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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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| academics, was skeptical--not of the wisdom of the European monetary union project--but of the likelihood of the Germans and the Bundesbank giving up their central role under the European Monetary System regime of 1980s and 1990s. Soros had first gained worldwide notoriety when he stared down the Bank of England in 1992, almost single-handedly forcing the British pound out of the European Monetary System. The scenario covers two monetary policy regimes: the current arrangements (the European Monetary System, or EMS) and those envisioned under the Economic and Monetary Union (EMU). |
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