Experience under the EMS and Prospects for Further Progress towards EMU

Michael Emerson

Chapter 2 in European Monetary Union, 1982, pp 18-32 from Palgrave Macmillan

Abstract: Abstract In the period since President Jenkins (1978) stimulated serious debate again on European monetary integration, the European Monetary System (EMS) has settled into the landscape more comfortably than one might have expected from the debate surrounding the negotiation period. Already in April 1979, only a month after the EMS began its operating, Christopher McMahon (1979), now deputy Governor of the Bank of England observed: ‘If the EMS did not exist, it — or something similar — would have to be invented.’

Keywords: Monetary Policy; European Monetary Union; European Monetary; European Monetary System; International Monetary System (search for similar items in EconPapers)
Date: 1982
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DOI: 10.1007/978-1-349-16781-4_2

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