TITLE European countries pegged their currencies in 1979 (EMS, EMS wiki, ERM, (E)ERMwiki ECU pdf). This led to some currencies becoming too weak and targets for shorting attacks in the 90’s by e.g. Soros. During the attacks England and Sweden left EMS in an emergency and pound and Swedish krona were made to float. The … Continue reading 18.008 exchange rate mechanisms in Europe; currencies