ERM
E82761
ERM is a European Union system designed to reduce exchange rate variability and achieve monetary stability in preparation for economic and monetary union.
Observed surface forms (1)
| Surface form | Occurrences |
|---|---|
| ERM II | 1 |
Statements (37)
| Predicate | Object |
|---|---|
| instanceOf |
European monetary system component
ⓘ
exchange rate mechanism ⓘ |
| alsoKnownAs |
European Monetary System
ⓘ
surface form:
European Exchange Rate Mechanism
|
| appliesTo | currencies of participating European countries ⓘ |
| basedOn | fixed but adjustable exchange rates ⓘ |
| country | European Union ⓘ |
| designedFor | preparation for Economic and Monetary Union (EMU) ⓘ |
| facetOf |
European Union economic policy
ⓘ
European integration ⓘ |
| followedBy |
ERM
self-linksurface differs
ⓘ
surface form:
ERM II
euro area single currency regime ⓘ |
| fullName | Exchange Rate Mechanism ⓘ |
| goal |
achieve monetary stability in Europe
ⓘ
reduce exchange rate variability among European currencies ⓘ |
| hasCriterion |
narrow exchange rate fluctuation margins for some currencies
ⓘ
wider exchange rate fluctuation margins for others ⓘ |
| hasEffect |
convergence of inflation rates among member states
ⓘ
greater monetary policy coordination in Europe ⓘ |
| hasPart |
central parity rates
ⓘ
exchange rate bands ⓘ intervention points ⓘ |
| inceptionContext |
move towards Economic and Monetary Union in Europe
ⓘ
need to stabilize intra-European exchange rates after Bretton Woods ⓘ |
| introducedBy | European Economic Community ⓘ |
| involves | central bank foreign exchange interventions ⓘ |
| legalForm | intergovernmental agreement ⓘ |
| monitoredBy | European monetary authorities ⓘ |
| partOf | European Monetary System ⓘ |
| purpose |
limit fluctuations between participating European currencies
ⓘ
prepare for economic and monetary union in Europe ⓘ |
| region | Europe ⓘ |
| regulates | maximum bilateral exchange rate fluctuations ⓘ |
| replaced | previous bilateral exchange arrangements among European countries ⓘ |
| significantEvent | 1992–1993 ERM crisis ⓘ |
| startTime | 1979 ⓘ |
| uses |
mutual support through central bank interventions
ⓘ
parity grid ⓘ |
Referenced by (3)
Full triples — surface form annotated when it differs from this entity's canonical label.
this entity surface form:
ERM II