The European Monetary System (EMS)

  • Ferdinand Hain
Part of the Vienna Institute for Comparative Economic Studies book series (VICES)


On March 13, 1979, a new device in the monetary sphere of Western Europe came into being: the European Monetary System (EMS), based on an agreement between the then nine member countries of the European Communities (EEC), started its operations. After a few abortive efforts, this new attempt was made to provide a stimulus from the monetary side to the rather dragging process of European economic integration. Why from the monetary side, and what contribution can monetary policy make to regional economic integration?


Exchange Rate Monetary Policy Central Bank European Monetary System Exchange Rate Policy 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© Wiener Institut für Internationale Wirtschaftsvergleiche (WIIW) (The Vienna Institute for Comparative Economic Studies) 1983

Authors and Affiliations

  • Ferdinand Hain
    • 1
  1. 1.Oesterreichische NationalbankViennaAustria

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