How the european Single Currency evolved Table 20-1: A Brief Glossary of euronyms ECB European Central Bank ESCB European System of Central Banks EMS European monetary system EMU Economic and monetary Union ERM Exchange Rate mechanism SGP Stability and growth Pact Copyright C 2003 Pearson Education, Inc Slide 20-5Copyright © 2003 Pearson Education, Inc. Slide 20-5 Table 20-1: A Brief Glossary of Euronyms How the European Single Currency Evolved