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Le durcissement du système va faire que le SME va être remis en question d'autant plus que le SME était un système asymétrique : les monnaies les plus faibles avaient empiriquement la charge d'intervenir en cas de déséquilibre car les monnaies les plus fortes ne variaient que très peu par rapport à l'ECU. De plus, une politique monétaire restrictive n'affectait pas les pays ayant une économie fondée sur la compétitivité hors prix. Finalement le SME à tout de même permis une certaine stabilité monétaire dans cette période même s'il est difficile d'apprécier la part du SME dans cette stabilité.

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