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Document 11992E109M

TREATY ESTABLISHING THE EUROPEAN COMMUNITY
TITLE IV - ECONOMIC AND MONETARY POLICY
CHAPTER 4: TRANSITIONAL PROVISIONS
ARTICLE 109M

/* CODIFIED VERSION OF THE TREATY ESTABLISHING THE EUROPEAN COMMUNITY */

OJ C 224, 31.8.1992, p. 43 (ES, DA, DE, EL, EN, FR, IT, NL, PT)

Legal status of the document In force

ELI: http://data.europa.eu/eli/treaty/tec_1992/art_109m/oj

11992E109M

TREATY ESTABLISHING THE EUROPEAN COMMUNITY - TITLE IV - ECONOMIC AND MONETARY POLICY - CHAPTER 4: TRANSITIONAL PROVISIONS - ARTICLE 109M /* CODIFIED VERSION OF THE TREATY ESTABLISHING THE EUROPEAN COMMUNITY */

Official Journal C 224 , 31/08/1992 P. 0043


Article 109m

1. Until the beginning of the third stage, each Member State shall treat its exchange rate policy as a matter of common interest. In so doing, Member States shall take account of the experience acquired in cooperation within the framework of the European Monetary System (EMS) and in the developing the ECU, and shall respect existing powers in this field.

2. From the beginning of the third stage and for as long as a Member State has a derogation, paragraph 1 shall apply by analogy to the exchange rate policy of that Member State.

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