Det Europæiske Monetære System er blevet erstattet af en valutakursmekanisme, som blev indført ved Det Europæiske Råds resolution af 16. juni 1997 om oprettelse af en valutakursmekanisme i tredje fase af Den Økonomiske og Monetære Union [8].
The European Monetary System has been replaced by an exchange rate mechanism, the setting-up of which was agreed by a resolution of the European Council of 16 June 1997 on the establishment of an exchange-rate mechanism in the third stage of economic and monetary union [8].