| Webster's Online Dictionary |
| Expressions | Domain | Definition | |
| ERM II | Finance | Successor exchange rate arrangement to the present ERM, which will provide the framework for exchange rate policy co-operation between the euro and Member States not participating in the euro area from the start of Stage Three. Membership will be voluntary; nevertheless, EU Member States with a derogation can be expected to join the mechanism. The basic principles and operational features were agreed at the Dublin European Council on 13 and 14December 1996 and the related legal texts which will form the basis of the mechanism (a European Council Resolution and an agreement between the ECB and non-euro area NCBs) are currently under preparation. Source: European Union. (references) | |
Source: compiled by the editor from various references; see credits. | Top | ||
