The European Monetary System (EMS) has the chief objective(s)to establish a “zone of monetary stability” in Europe.to pave the way for the eventual European monetary union.to coordinate exchange rate policies vis-à-vis the non-EMS currencies.all of the options
all of the above
All of the options are correct. The European Monetary System (EMS) was created in 1979 with the aim of promoting monetary stability in Europe, which involved the coordination of exchange rate policies among member countries. The EMS also paved the way for the eventual establishment of the European monetary union, which culminated in the introduction of the euro currency in 1999. The system sought to stabilize exchange rates between member currencies and to mitigate the effects of currency speculation, which could destabilize national economies. Therefore, the EMS had the objective of creating a “zone of monetary stability” in Europe.
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