The European Monetary System (EMS) was an arrangement designed to stabilize exchange rates and synchronize economic policy-making among European Community member states. It aimed to lay the groundwork for future economic and monetary union within Europe.
The Exchange Rate Mechanism (ERM) is a system introduced by the European Economic Community to reduce exchange rate variability and achieve monetary stability in Europe ahead of the introduction of a single currency, the Euro.
The Exchange Rate Mechanism (ERM) is a system introduced by the European Economic Community in March 1979 to reduce exchange rate variability and achieve monetary stability in Europe in preparation for Economic and Monetary Union and the introduction of a single currency, the euro.
