the European Monetary System
/ðə ˌjʊərəpiːən ˈmʌnɪtri sɪstəm/
/ðə ˌjʊrəpiːən ˈmɑːnɪteri sɪstəm/
(abbreviation the EMS)
- a system, started in 1979, to help the member countries of the European Union to keep a steady economic balance in Europe before the introduction of the ERM