1978年欧洲货币体系与汇率机制（ERM）创建。
The European Monetary System and the Exchange Rate Mechanism (ERM) are created.
应完善国际货币体系，健全储备货币发行调控机制，保持主要储备货币汇率相对稳定。
Improve the international monetary system, improve the reserve currency issuing regulatory regime and maintain relative stability of exchange rates of major reserve currencies.
当时，所有12个欧盟成员国(出希腊以外)都加入了汇率机制。这是一个将每个国家货币和其它任何一个国家货币套牢的的体系，汇率只能在很窄浮度内摆动。
At the time all 12 EU countries, bar Greece, were in the exchange-rate mechanism (ERM), a system that tied currencies to each other within narrow trading bounds.
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