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 to settle transactions between Community authorities and for operating the other mechanisms of the system. member states have fixed interest rates, and the European Monetary Cooperation Fund (EMCF) supports intervention at levels around this figure. The European Union tried but failed to move to complete Economic and Monetary Union before the end of the 20th century.

Collins dictionary of law. . 2001.


European Monetary System
European Monetary System (EMS)
Established in 1979 as an arrangement with member states to maintain their exchange rates within set fluctuation margins in order bring those states closer to European Monetary Union.
For further information, see the Europa website:
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • 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 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… …   Financial and business terms

  • 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

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”