european monetary system

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Definition of european monetary system words

noun european monetary system the system used in the European Union for stabilizing exchange rates between the currencies of member states and financing the balance-of-payments support mechanism. The original Exchange Rate Mechanism was formed in 1979 but superseded in 1999 when the euro was adopted as official currency of 11 EU member states. A new exchange rate mechanism (ERM II) based on the euro is used to regulate the currencies of participating states that have not adopted the euro 0

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A common word. It’s meaning is known to most children of preschool age. About 89% of English native speakers know the meaning and use the word.

Most Europeans know this English word. The frequency of it’s usage is somewhere between "mom" and "screwdriver".

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