A major reason for creating the European Monetary System was to

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The creation of the European Monetary System was largely motivated by the desire to avoid competitive devaluations among European countries, which had been a major problem in the past. The system aimed to stabilize exchange rates and promote monetary cooperation among its members. It did not, however, lead to the creation of a single currency, unification of banking laws, elimination of central banks, or other related goals.

A Major Reason for Creating the European Monetary System Was