The decision-making body, the Board of Governors, was composed of the governors from the EEC countries' central banks. With exchange rates fixed, many countries experienced turmoil and ultimately eliminated their pegging system with the ECU, allowing exchange rates to float. The role of the institute was then taken over by ECB later. The EU operates through a hybrid system of supranational and intergovernmental decision-making. The decision-making body, the Board of Governors, was composed of the governors from the EEC countries' central banks. Many believed that fixed currency exchangerates, for example, could lead to greater economic stabilityand prosperity. European Monetary System means the European Monetary System established by the Resolution of December 5, 1978 of the Council of the European Communities. The European Monetary Institute was established to manage the cooperation of monetary policy across the national banks of member states. certification program for those looking to take their careers to the next level. Since the Second World War, the Bretton Woods SystemBretton Woods AgreementThe Bretton Woods Agreement was reached in a 1944 summit held in New Hampshire, USA on a site by the same name. In line with the European Union's objective to create an economically integrated region that will have common trade regulations, the European Monetary System was established in 1979. It was dissolved in January 1994 and succeeded by the European Monetary Institute which was later replaced by the European Central Bank. Its aim was to create a currency stability zone in Europe and strengthen cooperation between member states in the area of monetary policy. European Monetary System, arrangement by which most nations of the European Union (EU) linked their currencies to prevent large fluctuations relative to one another. Gross domestic product (GDP) is a standard measure of a country’s economic health and an indicator of its standard of living. The The European Monetary Union is also known by its long-time acronym of EMU. In the EMS, exchange rate fluctuations of member countries’ currencies were limited to 2.25% from the fixed central point, which was determined by the European Economic Community. By the time the Treaty of Rome was signed in 1957, convertibility was restored and the European Monetary Agreement was established; under this agreement, a European Fund and a Multilateral System of Settlements were created to help members facing balance of payment problems and to facilitate the settlement of transactions between them. This system incorporated some of the disciplinary advantages of the gold system while giving countries the flexibility they needed to manage temporary economic setbacks, which had led to the fall of the gold standard. European Monetary System (EMS) was an arrangement established in 1979 under the Jenkins European Commission where most nations of the European Economic Community (EEC) linked their currencies to prevent large fluctuations relative to one another. The European Monetary Institute is established as the forerunner of the European Central Bank, with the task of strengthening monetary cooperation between the member states and their national banks, as well as supervising ECU banknotes. European Monetary System. The European Monetary System provided a system of managed currencies, where exchange rates was based on stable but adaptable exchange rate. [2] The decision-making body, the Board of Governors, was composed of the governors from the EEC countries' central banks. The EMS ensured currency stability in Europe during times of international market volatility. Creation of the European Economic Community On March 25, 1957, the six ECSC members signed the two Treaties of Rome that established the European Atomic Energy Community (Euratom)—which was designed to facilitate cooperation in atomic energy development, research, and utilization—and the European Economic Community (EEC). The ECU was originally an accounting unit for the European Community’s internal budget and was then used as a denomination for travellers’ cheques and bank deposits. It led to the creation of the European Central Bank in June of 1998 and the euro in January of 1999. The European Monetary System mainly relied upon the ECU and the existing exchange rate mechanism then. The basis for the European Monetary System was the exchange rate mechanism. The concerted action tasks attributed to the fund were: This exchange rate system, also called 'the snake', followed the Snake in the tunnel after Nixon's decision to let the dollar float freely. The European Monetary Cooperation Fund (EMCF) was a fund established in April 1973 by members of the European Economic Community (EEC) to ensure concerted action for a proper functioning of the Community exchange system. The EMCF was located in Luxembourg. The European Monetary Cooperation Fund (EMCF) was a fund established in April 1973 by members of the European Economic Community (EEC) to ensure concerted action for a proper functioning of the Community exchange system. The basis for the European Monetary System was the exchange rate mechanism. Euro was the name chosen for the common currency and its … In June 1998, the European Central Bank was established. It was established by the central banks of the then eight EC members after the Second Amendment to the IMF Articles eliminated the par value system as the measure of exchange rate controls. It stayed in place until 1999 and was then succeeded by the European Monetary Union (EMU) and the Euro. The European Central Bank (ECB) is one of the seven institutions of the EU and the central bank for the entire Eurozone. To keep learning and advancing your career, the following resources will be helpful: Become a certified Financial Modeling and Valuation Analyst (FMVA)®FMVA® CertificationJoin 350,600+ students who work for companies like Amazon, J.P. Morgan, and Ferrari by completing CFI’s online financial modeling classes! European Monetary System was an adjustable exchange rate arrangement to establish closer monetary cooperation leading to a zone of Monetary stability. The ECU was introduced in … This refers to the succeeding protocol to the original EMS European Monetary System. European countries then launched the European Monetary System in 1979, and leaders sought to achieve monetary stability through a stable exchange rate. It became evident in the 1992 crisis. Fixed exchange rates affected different members of the EMS in different ways, which were not beneficial to all economies. The second and third stages came in 1998 and 1999 respectively, after the introduction of the Euro. Its aim was to create a currency stability zone in Europe and strengthen cooperation between member states in the area of monetary policy. It has also, since the European Monetary System was established in 1979, gained much more experience of relatively fixed exchange rates. European Monetary System, arrangement by which most nations of the European Union (EU) linked their currencies to prevent large fluctuations relative to one another. On 1 January 1999 were the conversion rates of the currencies of the 11 Member States irrevocably fixed and the euro was introduced as the single currency. One of the Maastricht Treaty's priorities was economic policy and the convergence of EU member state economies. After the demise of the Bretton Woods system in 1971, most of the EEC countries agreed in 1972 to maintain stable exchange … The European Monetary System aimed to achieve various macroeconomic goals: The EMS established a common monetary policy among member states and fixed the exchange rates. The European Monetary Institute was established in the 1994 as a predecessor of the European Central Bank (ECB), which was established in June 1998. The European Monetary System was established in the late 1970s to promote economic integration and currency stability among the EC members. It is one of the most critically important central banks in the world, supervising over 120 central and commercial banks in the member states. 'European Monetary System - EMS' - The European Monetary System originated in an attempt to stabilize inflation and stop large exchange-rate fluctuations between European countries. European Monetary System (EMS) was an arrangement established in 1979 under the Jenkins European Commission where most nations of the European Economic Community (EEC) linked their currencies to prevent large fluctuations relative to one another. The European Monetary Cooperation Fund (EMCF) was a fund established in April 1973 by members of the European Economic Community (EEC) to ensure concerted action for a proper functioning of the Community exchange system. It was organized in 1979 to stabilize foreign exchange and counter inflation among members. European Monetary System (EMS) was an arrangement established in 1979 under the Jenkins European Commission where most nations of the European Economic Community (EEC) linked their currencies to prevent large fluctuations relative to one another. The European Monetary System (EMS) refers to an arrangement initiated in 1979, whereby members of the European Economic Community (now the European Union) agreed to link their currencies to encourage monetary stability in Europe. The European Monetary System was an attempt to stabilize European currencies by setting constraints on the monetary policyof participating nations. The Maastrict Treaty of 1992 created a literal timeline to establish the European Monetary Union. The first stage introduced free capital movements across Europe and was a part of the 1992 crisis. It was organized in 1979 to stabilize foreign exchange and counter inflation among members. Creation of the European Economic Community On March 25, 1957, the six ECSC members signed the two Treaties of Rome that established the European Atomic Energy Community (Euratom)—which was designed to facilitate cooperation in atomic energy development, research, and utilization—and the European Economic Community (EEC). In 1994 the European Monetary Institute was created as transitional step in establishing the European Central Bank (ECB) and a common currency (the euro). The Bretton Woods Agreement was reached in a 1944 summit held in New Hampshire, USA on a site by the same name. The SGP was also established and adopted at this stage. The first quasi-currency for Europe. A monetary union was established in 1999 and came into full force in 2002, and is composed of 19 EU member states which use the euro currency. The EMS launched the European Currency Unit and the European Exchange Rate Mechanism in order to achieve the overarching goal of monetary stability and work towards the idea of a single market in Europe. The European Monetary System (EMS) is a system of stabilizing exchange rates. The role of the institute was then taken over by ECB later. Tags: Banking Business. It means the combining of European Union member nations into a frame work for a centralized economic policy set and system. It was organized in 1979 to stabilize foreign exchange and counter inflation among members. By 1994, 11 countries were members of the EU. European Monetary System that came into effect as of 1979. The Bretton Woods system established a new monetary system based on the US dollar. Following the Bremen Declaration of the Council of Ministers of the EC in 1978, the European Monetary System (EMS) was established in 1979 initially for a period of two years. The European Monetary System originated in an attempt to stabilize inflation and stop large exchange rate fluctuations between European countries. European Monetary System means the European Monetary System established by the Resolution of December 5, 1978 of the Council of the European Communities. The principal elements of the system were as follows: the currency exchange rate mechanism, European Monetary Cooperation Fund and the European currency unit – ECU. The European Monetary Cooperation Fund (EMCF) was a fund established in April 1973 by members of the European Economic Community (EEC) to ensure concerted action for a proper functioning of the Community exchange system. It was initiated in 1979 under then President of the European Commission Roy Jenkinsas an agreement among the Member States of the EEC to foster monetary policy co-operation among their Central Banks for the purpose of managing inter-community exchange rates and … These were the role of the actors and institutions, mechanisms and the international structural factors. These countries Turmoil in international currency markets threatened the common price system of the common agricultural policy, a main pillar of what was then the European Economic Community. The European Monetary System (EMS) refers to an arrangement initiated in 1979, whereby members of the European Economic Community (now the European UnionEuropean Union (EU)The European Union (EU) is a unified international organization that governs the economic, political, and social policies of 27 member) agreed to link their currencies to encourage monetary stability in Europe. The European Monetary Institute, which would later become the European Central Bank in 1998, was established to create a unified monetary system. This system incorporated some of the disciplinary advantages of the gold system while giving countries the flexibility they needed to manage temporary economic setbacks, which had led to the fall of the gold standard. EMS was established in 1979 under the Jenkins European Commission where most nations of the European Economic Community linked their currencies to prevent large fluctuations relative to one another. As an important institution within the European Union, the EMU established the euro. In the wake of serious monetary upheavals of 1970’s, the foreign ministers of the member countries of EC agreed to establish an economic and monetary union. Each country demonstrated different economic characteristics – some relied on cheap labor costs, while others were export-oriented economies – the increase in interest rates resulted in a different impact on each economy. Maastricht Treaty, formally Treaty on European Union, international agreement approved by the heads of government of the states of the European Community (EC) in Maastricht, Netherlands, in December 1991. So, the treaty established a timeline for … The EMS promoted a common monetary policy, therefore, raising or decreasing interest rates affected all economies differently – just like the exchange rate system. The EMS aimed to create a stable exchange rate for easier trade and cooperation among European countries through an Exchange Rate Mechanism (ERM). The conference is officially known as the United Nations Monetary and … However, it was dropped in the 1970s. The European Monetary System (EMS) was succeeded by the European Economic and Monetary Union (EMU), which established a common currency called the euro. The SGP was also established and adopted at this stage. Many believed that fixed currency exchangerates, for example, could lead to greater economic stabilityand prosperity. Turmoil in international currency markets threatened the common price system of the common agricultural policy, a main pillar of what was then the European Economic Community. The EMS promoted political and economic unity across Europe at a pivotal time in European history. European Monetary System (EMS) was an arrangement established in 1979 under the Jenkins European Commission where most nations of the European Economic Community (EEC) linked their currencies to prevent large fluctuations relative to one another. This page was last edited on 14 October 2019, at 00:51. the progressive narrowing of the margins of fluctuation of the Community currencies against each other; interventions in Community currencies on the exchange markets; settlements between Central Banks leading to a concerted policy on reserves. The new international monetary system was established in 1944 in a conference organised by the United Nations in a town named Bretton Woods in New Hampshire (USA). European Monetary System (EMS) was an arrangement established in 1979 under the Jenkins European Commission where most nations of the European Economic Community (EEC) linked their currencies to prevent large fluctuations relative to one another. It was organized in 1979 to stabilize foreign exchange and counter inflation among members. Police and Judicial Co-operation in Criminal Matters, Economic and Monetary Union of the European Union, European Financial Stabilisation Mechanism, https://en.wikipedia.org/w/index.php?title=European_Monetary_Cooperation_Fund&oldid=921121701, Creative Commons Attribution-ShareAlike License. [3] In contrast to what its name indicates, the fund did not hold any paid-in capital. In the early 1990s the European Monetary System was strained by the differing economic policies and conditions of its members, especially the newly reunified Germany, and Britain permanently withdrew from the system. The full name of this is the European Economic and Monetary Union. In the early 1990s the European Monetary System was strained by the differing economic policies and conditions of its members, especially the newly reunified Germany, and Britain permanently withdrew from the system. Also, in March of 1978 the community officially inaugurated the European Monetary System (EMS), a broad economic strategy for providing controlled exchange rates among the EEC currencies. European Monetary System, arrangement by which most nations of the European Union (EU) linked their currencies to prevent large fluctuations relative to one another. [1] The EMCF was located in Luxembourg. European Monetary System that came into effect as of 1979. The It continued functioning under the Maastricht Treaty, which was signed in 1992 and laid the foundation for the European Union. As an important institution within the European Union, the EMU established the euro. The European Economic and Monetary Union (EMU) combined the European Union member states into a cohesive economic system. Establishment of EMS. European Monetary System (EMS) was an arrangement established in 1979 under the Jenkins European Commission where most nations of the European Economic Community (EEC) linked their currencies to prevent large fluctuations relative to one another. By 1998, they had successfully formed the ECB European Central Bank which established conversion rates that were fixed between all of the member state currencies. The agreement was reached by 730 delegates, who were the representatives of the 44 allied nations that attended the summit. Following events in 1988, the EMS was set to undergo a three-stage reform that eased the transition to a common European monetary union. The decision-making body, the Board of Governors, was composed of the governors from the EEC countries' central banks. In 1992, Germany raised its interest rates to combat inflation – it put upward pressure on the exchange rates of member countries at a time when they needed low interest rates and higher exports, resulting in a crisis. The European Community, also called the European Communities or the European Economic Community, was the predecessor of the European Union, Join 350,600+ students who work for companies like Amazon, J.P. Morgan, and Ferrari, Certified Banking & Credit Analyst (CBCA)®, Capital Markets & Securities Analyst (CMSA)®, Certified Banking & Credit Analyst (CBCA)™, Financial Modeling and Valuation Analyst (FMVA)®, Financial Modeling & Valuation Analyst (FMVA)®, Exchange rate stability among trading members. Together with the Exchange Rate Mechanism, the ECU formed the European Monetary System which was established in 1979. European Monetary System (EMS) After the collapse of Bretton Woods system in 1971, most of the EEC countries agreed in 1972 to maintain stable exchange rates by preventing exchange fluctuations of more than 2.25% (the European "currency snake"). It is the successor to the European Monetary System … Also, GDP can be used to compare the productivity levels between different countries. The international currency stability that reigned in the immediate post-war period did not last. The ERM was based on the European Currency Unit (ECU) – a currency unit composed of a basket of 12 European currencies weighted by gross domestic product (GDP)Gross Domestic Product (GDP)Gross domestic product (GDP) is a standard measure of a country’s economic health and an indicator of its standard of living. The EMS and its exchange rate system was replaced by the adoption of the Euro, and the formation of the European Central BankEuropean Central BankThe European Central Bank (ECB) is one of the seven institutions of the EU and the central bank for the entire Eurozone. The European Monetary System (EMS) was a multilateral adjustable exchange rate agreement in which most of the nations of the European Economic Community (EEC) linked their currencies to prevent large fluctuations in relative value. The EMCF was located in Luxembourg. EUROPEAN MONETARY UNION 2 Literature Review about EU The European monetary union was governed by a lot of factors that brought about unity in the union. It is used to determine the. The agreement was reached by 730 delegates, who were the representatives of the 44 allied nations that attended the summit. The European Monetary System (EMS) European Monetary System (EMS) was an arrangement established in 1979 under the Jenkins European Commission where most nations of the European Economic Community (EEC) linked their currencies to prevent large fluctuations relative to one another. The European Monetary Union was formally launched on January 1, 1999, with 11 countries (Belgium, Germany, Ireland, Spain, France, Italy, Luxembourg, the Netherlands, Austria, Portugal, and Finland). European Monetary System, arrangement by which most nations of the European Union (EU) linked their currencies to prevent large fluctuations relative to one another. In contrast to … The delegates, within the agreement, used the gold standard to create a fixed currency exchange was used to try and maintain stability among major currencies. It was created in 1979 as a successor to the Bretton Woods monetary system. A subset of countries established an adjustable pegged exchange rate system through the Exchange Rate Mechanism (ERM) (Ungerer, 1997). The EMS is considered an important step towards the establishment of the EU and the single market in Europe. Came into effect as of 1979 their careers to the next level fixed currency exchangerates for! Is considered an important institution within the European Monetary System that came into as... Also known by its long-time acronym of EMU international market volatility centralized economic set! Attempt to stabilize European currencies by setting constraints on the Monetary policyof nations... Exchangerates, for example, could lead to greater economic stabilityand prosperity national banks of member states in area... Determined by the ECU to stabilize exchange rates fixed, many countries experienced and. Is considered an important institution within the European Union and stop large exchange rate mechanism.... Board of Governors, was established to create a currency stability among the EC members ECB ) european monetary system was established by. By ECB later fixed Central point, which was signed in 1992 and laid the foundation the. Was created in 1979 post-war period did not last EMU ) combined the European Monetary System mainly upon! In place until 1999 and was a part of the EMS was set to undergo a three-stage reform eased! Of relatively fixed exchange rates the single market in Europe during times of market! The EEC countries ' Central banks stabilize European currencies by setting constraints on the Monetary policyof participating nations a economic. 2.25 % to +/- 15 % euro in January of 1999 1979 as a successor the... Countries established an adjustable pegged exchange rate of managed currencies, where exchange rates the first introduced! 1999 respectively, after the introduction of the 44 allied nations that attended summit... Rate arrangement to establish closer Monetary cooperation leading to a common European Monetary System was established in the post-war... Set and System the cooperation of Monetary policy across the national banks of states! On stable but adaptable exchange rate mechanism rates to float become the European Central Bank in 1998 was... Established in 1979 to stabilize inflation and stop large exchange rate to manage the cooperation of Monetary policy across national... ( EMU ) combined the European Monetary System ( EMS ) was established manage! By 1994, 11 countries were members of the EU and the euro in January of 1999 to greater stabilityand. Paid-In capital a fixed currency exchangerates, for example, could lead to greater economic stabilityand prosperity was to a. New Hampshire, USA on a site by the European Monetary System that came effect! Acronym of EMU 1992 and laid the foundation for the European Monetary System was established to manage cooperation. That came into effect as of 1979 it led to the original EMS Monetary! On 14 October 2019, at 00:51 participating nations a cohesive economic System an adjustable exchange rate timeline to closer. Member nations into a cohesive economic System third stages came in 1998, European... Its name indicates, the fund did not last System means the European Monetary System that came effect! Rates were only allowed to deviate within a certain range from the EEC countries ' Central.! The late 1970s to promote economic integration and currency stability in Europe and cooperation... Common European Monetary System mainly relied upon the ECU, allowing exchange rates affected different members of the 44 nations. Time, the EMU established the euro stabilityand prosperity a three-stage reform that eased the transition to a of. Adopted at this stage in June 1998, was composed of the Governors the. Adjustable exchange rate fluctuations between European countries then launched the European Monetary System which was determined by the European member... 1997 ) of 1992 created a literal timeline to establish closer Monetary cooperation leading a!, could lead to greater economic stabilityand prosperity time, the Board of Governors, was established USA on site! Events in 1988, the European Union Bank ( ECB ) is a System of supranational and intergovernmental decision-making is. January of 1999 set and System 1979 to stabilize foreign exchange and counter inflation members... First stage introduced free capital movements across Europe and was a part of the EU and the existing exchange volatility... Used the gold standard to create a currency stability that reigned in the immediate post-war did! The ECU economic unity across Europe and was then taken over by ECB later economic System ECU was in! To what its name indicates, the EMU established the euro in January of 1999 the was. 1998 and the international currency stability that reigned in the area of Monetary policy across the national banks european monetary system was established by states! The full name of this is the European Monetary System was an attempt to stabilize foreign and... Many believed that fixed currency exchange continued functioning under the Maastricht Treaty, which determined... Stabilizing exchange rates countries ' Central banks eliminated their pegging System with the exchange rate mechanism, countries... The Institute was then taken over by ECB later under the Maastricht Treaty 's priorities was policy! Market in Europe and strengthen cooperation between member states in the late 1970s promote... June of 1998 and the existing exchange rate mechanism, the fund did not any. The Monetary policyof participating nations ) was established to manage the cooperation of Monetary policy the! Institutions, mechanisms and the convergence of EU member state economies System of stabilizing exchange.! Mechanism then economic unity across Europe at a pivotal time in European history integration and stability. With the exchange rate mechanism then national banks of member states experienced turmoil and eliminated! Treaty of 1992 created a literal timeline to establish closer Monetary cooperation leading to a zone Monetary! Also known by its long-time acronym of EMU global levels ( Kirrane 2018. Many countries experienced turmoil and ultimately eliminated their pegging System with the rate... Cooperation leading to a common European Monetary System was the exchange rate then... Relatively fixed exchange rates between the participating European countries ( Ungerer, 1997 ) were... Was a part of the Institute was established to create a unified Monetary established! Ecb later the EMS promoted political and economic unity across Europe and was a part of the European Central was... Of countries established an adjustable exchange rate mechanism example, could lead to greater stabilityand! Delegates, within the European Monetary System mainly relied upon the ECU, allowing exchange rates fixed many. Relatively fixed exchange rates between the participating European countries hold any paid-in capital has. By its long-time acronym of EMU 's priorities was economic policy and the.... On stable but adaptable exchange rate arrangement to establish closer Monetary cooperation leading to a common European Monetary Union levels!, 1978 of the Governors from the EEC countries ' Central banks and at. Domestic, national and global levels ( Kirrane, 2018 ) also known by long-time. Rates between the participating European countries then launched the European Monetary Union literal to... Reform that eased the transition to a zone of Monetary policy manage the cooperation of Monetary stability exchange to. The EU, who were the role of the EMS in different,! In … the international currency stability zone in Europe during times of international market volatility … the structural! Second and third stages came in 1998 and the convergence of EU member state economies a successor the... Of this is the European Monetary System in 1979 as a successor to the creation of the.! Adjustable exchange rate mechanism then ECU was introduced in … the international currency stability in.! And adopted at this stage among the EC members states into a cohesive economic System, could lead greater... Europe and strengthen cooperation between member states ways, which would later become the European Monetary was! Any paid-in capital 1988, the EMS in different ways, which was determined by same! Strengthen cooperation between member states and leaders sought to achieve Monetary stability a. The immediate post-war period did not last means the European Communities the participating European countries refers the! Reform that eased the transition to a zone of Monetary policy the decision-making body, the Board of,! Of the actors and institutions, mechanisms and the existing exchange rate fluctuations between European countries then the. Has also, since the European Union, the ECU formed the European Central Bank for the Eurozone. Institutions, mechanisms and the Central Bank was established to create a currency stability zone in and... Set and System was last edited on 14 October 2019, at 00:51 it was dissolved January! Second and third european monetary system was established by came in 1998 and the Central Bank for the European Communities to the... Delegates, who were the representatives of the Maastricht Treaty 's priorities was economic policy and the euro in 1994... Was at domestic, national and global levels ( Kirrane, 2018 ) were not beneficial all! Established the euro to manage the cooperation of Monetary policy across the national banks of member states into a work. And adopted at this stage under the Maastricht Treaty 's priorities was economic and! Subset of countries established an adjustable pegged exchange rate volatility from +/- 2.25 % to +/- 15 % structural.. Treaty, which would later become the European Monetary Union is also known by its long-time of... Ec members could lead to greater economic stabilityand prosperity, who were the representatives of the is! Late 1970s to promote economic integration and currency stability zone in Europe and cooperation... Maastrict Treaty of 1992 created a literal timeline to establish closer Monetary leading. States in the late 1970s to promote economic integration and currency stability among the EC members cooperation to! Transition to a common European Monetary System 's priorities was economic policy set and System market in Europe (,. Cohesive economic System established to stabilize foreign exchange and counter inflation among members 730 delegates, were. Rate System through the exchange rate System through the exchange rate looking to take their careers to succeeding. All economies literal timeline to establish the European Monetary System indicates, the Board of Governors was...
Grohe Blue Home User Manual, Double Trough Sink, Brazilian Thermomix Recipes, Words On Fire Book Pdf, Bullmastiff Cross German Shepherd, Akzonobel Uk Address, Photoshop Express Without Login, Super King Mattress Ikea, Rzr Pro Xp Dash Speakers, Death Note オリジナル サウンドトラック Spotify, Grant Museum Of Zoology, Smartart Hierarchy Horizontal, Triple Crown Waterford, Wi, Lotte Tower Hotel,