Definition of European Monetary System in English:

European Monetary System

Line breaks: Euro|pean Monetary System
(abbreviation: EMS)
  • A monetary system inaugurated by the European Community in 1979 to coordinate and stabilize the exchange rates of the currencies of member countries, as a prelude to monetary union. It is based on the use of the Exchange Rate Mechanism.

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Pronunciation: ˌastrə(ʊ)ˈgeɪʃ(ə)n
noun
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