Why did the EU countries move away from the EMS toward the goal of a single shared currency?
Answer:
To produce a greater degree of European market integration by removing the threat of EMS currency
To reduce German dominance of the EMS monetary
Given the move to complete freedom of capital movements within the EU, fixed but adjustable currency parities, may lead to ferociously speculative attacks, as in 1992 – 1993.
To guarantee the political stability of
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