 In 1998 Denmark entered an agreement with the EU about participating in the Exchange Rate Mechanism II with a narrow fluctuation band of +/- 2.25 pct instead of the +/- 15pct which is the standard fluctuation band in the mechanism.This agreement was negotiated and finalised in the ECOFIN Council 25–27 September 1998.The main difference between ERM and ERM II is that the currencies participating in the ERM II system are no longer linked to bilateral parities with other participating currencies as they were in the original ERM system, but instead linked to the Euro.