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European exchange rate mechanism
European system to reduce exchange rate variability prior to the Euro
Pronunciation
/jʊərəˈpiːən ɪksˈʧeɪnʤ reɪt ˈmɛkənɪzəm/
/ˌjʊrəˈpiən ɪksˈʧeɪnʤ reɪt ˈmɛkəˌnɪzəm/
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system
