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Balladur Memorandum - A 1988 French statement on the reforms to the European Monetary system (EMS) necessary for an effective internal market. The core ideas were the maintaining of identical margins of permissible currency fluctuations and the participation of all Member States in the Exchange Rate Mechanism (ERM). Reference: Professor Derek Urwin, Department of Politics and International Relations, University of Aberdeen, Aberdeen, U.K., http://www.abdn.ac.uk/~pol028/index.htm

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