Publisher's Synopsis
With sterling's entry into the Exchange Rate Mechanism of the European monetary System, European monetary issues are going to become increasingly important as factors in the UK economy. Sterling's entry into the ERM means a shift in the distribution of economic risks, for example, and a shift in investment flows away from high-risk eequities into low risk bonds. This poses fundamental problems for UK investment funds and the financial intermediaries, which serve them. This practical guide will explain the mechanics, operations, performance and terminology of the EMS and related European monetary arrangement. It gives examples and applications and is supported throughout by charts and tables.
