| 单词 | European Monetary System |
| 释义 | European Monetary System = (EMS) A European organization set up in 1979 to co-ordinate monetary policy and exchange rates in Europe. Its main practical activity has been running the Exchange Rate Mechanism (ERM); its other activity has been discussing the possibility of movement towards a European Monetary Union (EMU), which would involve the closer co-ordination of monetary policy under a European System of Central Banks (ESCB), and ultimately a common European currency, and the setting up of a European Central Bank (ECB) to control it. |
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