A major reason for creating the European Monetary System was to

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Quizplus · Accepted Answer

The main purpose of the European Monetary System was to avoid competitive devaluations among European countries by establishing exchange rate stability and promoting economic integration. It did not aim to create a single currency or eliminate the need for central banks. While some harmonization of banking laws and cross-border investment was facilitated, it was not the primary reason for the system's creation.

A Major Reason for Creating the European Monetary System Was