The European Monetary System ceased to exist in 1999 when 12 European Union member nations adopted a single currency.

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The European Monetary System (EMS) was replaced by the European Economic and Monetary Union (EMU) in 1999, when 12 EU member states adopted the single currency Euro. This marked the beginning of the eurozone, a monetary union of 19 EU member states that share the Euro as their currency.

The European Monetary System Ceased to Exist in 1999 When