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The European Monetary Agreement (EMA) was an arrangement formed between countries within Europe to enable a sense of stability for the balance of payments accounts of member states. The EMA was implemented by the Organisation for Economic Cooperation and Development (OECD) to establish unity between the exchange rates of European countries, allowing member states to directly convert currencies. ^[1]

References

Sources I want to use on this page:

The European Monetary Agreement, the European Payments Union, and Convertibility[1]

European Monetary Integration^[2]

The case for European Monetary Integration. ^[3]

European Monetary Agreement: guide to the new convertible currencies how scheme works^[4]

European monetary agreement comes under U.S. reappraisal: U.S. reappraises a monetary pact. ^[5]

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1. doi:10.1111/j.1540-6261.1957.tb04142.x
   .
2. ISBN 978-1-349-01260-2
   , retrieved 2020-04-08
3. ^ J, Ingram (1973). "The case for European Monetary Integration" (PDF). Princeton University. 98: 1–27.
4. ^ "European Monetary Agreement: guide to the new convertible currencies how scheme works". South China Morning Post. 1959.{{cite web}}: CS1 maint: url-status (link)
5. ^ "European monetary agreement comes under U.S. reappraisal: U.S. reappraises a monetary pact". New York Times. 1971.{{cite web}}: CS1 maint: url-status (link)