European exchange rate mechanism

(redirected from Exchange Rate Mechanism II)
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European exchange rate mechanism (ERM)

The system that countries in the European Union once used to pay exchange rates within bands around an ERM central value.

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References in periodicals archive ?

Bulgaria is looking to join the Euro, Europe's single currency, in 2009 or 2010, after the obligatory two years it would have to spend in the Exchange Rate Mechanism II (ERM II) 'waiting room' following the country's planned accession to the EU in January 2007.

SOFIA EYES POTENTIAL 2009 ENTRY INTO EURO-ZONE

A smooth and balanced process towards the early entry into Exchange Rate Mechanism II (ERM II) and the adoption of the euro, at minimal cost and disruption, is at the heart of monetary policy as well as of other macroeconomic policies, not only in Slovenia but as well in many other accession countries.

Impact of EU enlargement: challenges foe Slovenia's monetary and exchange rate policies

I believe we have a realistic chance to apply" to be accepted into the single currency area's Exchange Rate Mechanism II (ERM II), he added.

Bulgaria Finance Minister: Now Is Time to Seek ERM 2 Entry

And the loss of monetary policy independence that would come from joining the Exchange Rate Mechanism II (ERM II) would further enhance the relative importance of other macro-economic policies, such as fiscal and incomes policies.