European Monetary Cooperation Fund
For other uses, see EMCF.
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The European Monetary Cooperation Fund (EMCF) is an institution and a fund established in 1973 by members of the European Exchange Rate Mechanism (ERM) of the European Union (EU) to stabilise exchange rates.[1] It was succeeded by the European Monetary Institute which is now part of the European Central Bank.[2]
References
- ↑ "Regulation establishing the European Monetary Cooperation Fund (3 April 1973)". Retrieved 2015-01-16.
On 3 April 1973, the Council adopts a Regulation establishing the European Monetary Cooperation Fund (EMCF). As Pierre Werner had envisaged in his ‘Report concerning the stage-by-stage implementation of economic and monetary union', the EMCF was initially placed under the authority of the governors of the central banks and was later to be integrated into a Community of central banks organisation
- ↑ "European Monetary Cooperation Fund". Retrieved 2009-03-10.
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