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The European Monetary System (EMS)

The European Monetary System (EMS). Pegged exchange system (1979-1993). Paul De Grauwe The Economics of Monetary Integration, Third Edition, Oxford: 1997. Chapter 5. Problems of Fixed Exchange Rate Systems. The credibility problem of governments that decide what the exchange rate will be

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Same inflation - PowerPoint PPT Presentation

The European Monetary System (EMS)