European Monetary System

1979 was a special time, when Europeans joined hands and sang the song of linked currencies. It was the year the European Monetary System (EMS) was born.

The EMS was an agreement between multiple countries in Europe that sought to link their currencies for economic stability within the eurozone.

If you’re thinking “isn’t that what the euro is for?”...you’re right. The euro didn’t happen until 1999 though. In the 20 years prior to the euro, Europe had the EMS. The EMS was eventually replaced with the European Economic and Monetary Union (EMU), a part of the European Union, which created the euro. Are eur-okay?

The EMS was the first step Europe took towards the euro and the general unified economic efforts of Europe, for the benefit of them all.

Well, until Brexit, that is. Break a leg, guys.