A measure of how far the exchange rates of currencies of members of the Exchange Rate Mechanism (ERM) of the European Monetary System (EMS) diverged from their agreed central parities with the European Currency Unit (ECU).
A unit of account introduced by the European Economic Community when forming the European Monetary System in 1979, used primarily by official European bodies in accounting, and superseded by the euro in 1999.
Description of the European Monetary System and its significance.
Limits to variations in exchange rates when a country commits itself to hold the exchange rate between its own currency and some foreign currency or currencies within a limited band.
A key feature of the European Monetary System (EMS) used to maintain currency stability within Europe.
Understanding the narrow-band framework within the Exchange Rate Mechanism (ERM) of the European Monetary System.
A detailed examination of the realignment of exchange rates, including its historical application and impact within economic systems.
An amendment to the Treaty of Rome that reformed the European Community in 1986.
An agreement by a group of countries to closely manage exchange rates within a flexible rate system.
