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1·The European Monetary System and the Exchange Rate Mechanism (ERM) are created.

1978年欧洲货币体系与汇率机制（ERM）创建。

2·The European Monetary System (EMS) was in fact the founding stone leading to the European single currency the Euro.

欧洲货币体系(EMS)，其实是通往欧洲单一货币欧元的奠基石。

3·Despite setbacks and disruptions during the depression of the 70 s, the integration process again picked up steam with the creation of the European Monetary System (EMS) in 1979.

尽管在七十年代的萧条时期遭受了干扰并出现了倒退，随着1979年欧洲货币体系(EMS)的设立，一体化进程又有了新的发展势头。

4·We believe that the birth of the Euro will help advance the process of European integration and establish a more balanced international financial and monetary system.

我们相信，欧元问世将有利于推动欧洲一体化的进程，并促进建立更加平衡的国际金融货币体系。

5·Since 1999, the launch and circulation of Euro has not only had far-reaching influence over international monetary system, but also becomes a corner stone in the process of European integration.

1999年以来，欧元的诞生及其在全世界范围内的流通，不仅对国际货币体系产生了深远的影响，而且已经成为欧洲一体化进程中最重要的里程碑。