- 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. Bloomberg Financial Dictionary————An exchange arrangement formed in 1979 that involves the currencies of European Union member countries. The New York Times Financial Glossary
* * *an arrangement established in 1979 between some members of the European Union to make their currencies steady against each other by taking action in the currency markets when one member's currency moves too far from its normal rate against other currencies — see also Exchange Rate Mechanism
* * *► See EMS.
Financial and business terms. 2012.
Look at other dictionaries:
European Monetary System — (EMS) a European monetary unit, an exchange rate intervention mechanism and a transfer mechanism established in 1978 under the law of the European Communities. It is this system that established the European Currency Unit (ECU), a currency used… … Law dictionary
European Monetary System — [jʊərə piːən mʌnɪtərɪ sɪstəm, englisch], Abkürzung EMS, das Europäische Währungssystem … Universal-Lexikon
European Monetary System — There are three stages of monetary cooperation in the European Union. Stage I European Monetary System (EMS) was an arrangement established in 1979 under the Jenkins European Commission where most nations of the European Economic Community (EEC)… … Wikipedia
European Monetary System — EMS A system of exchange rate stabilization involving the countries of the European Union, which began operations in 1979. There were two elements: the Exchange Rate Mechanism (ERM), under which participating countries committed themselves to… … Big dictionary of business and management
European Monetary System — EMS A system of exchange rate stabilization involving the countries of the European Union, which began operations in 1979. There were two elements: the Exchange Rate Mechanism (ERM), under which participating countries committed themselves to… … Accounting dictionary
European Monetary System — (EMS) Established in 1979 to secure a zone of monetary stability in Western Europe, with the Exchange Rate Mechanism (ERM) and the European Currency Unit (ECU) as its core elements. In the 1980s it increasingly became seen as inadquate, and… … Glossary of the European Union and European Communities
European Monetary System — noun (singular) the EMS; a system for limiting how much the different currencies (currency (1)) of countries within the European Union can go up or down in value in relation to each other … Longman dictionary of contemporary English
European Monetary System — /ˌjυərəpi:ən m nɪt(ə)ri sɪstəm/ noun system of controlled exchange rates between some of the member countries of the European Union. Abbreviation EMS COMMENT: The EMS now only applies to countries such as Greece which are members of the EU but… … Dictionary of banking and finance
European Monetary System — a Common Market program designed to narrow the fluctuation of western European currencies against one another. Abbr.: EMS * * * … Universalium
European Monetary System — technique designed to create economic unity for the nations of the European Economic Community by adjusting exchange rates between currencies and linking them to one another, EMS … English contemporary dictionary