According to
http://en.wikipedia.org/wiki/Latin_spelling_and_pronunciation

> However, ae and oe generally became monophthongs, /ɛː/ and /eː/
> respectively, already at the start of the imperial period.

I'm a bit confused by this. From what I've read the ɛ character is 
pronounced as the e 'bed' in American English, and the e character is 
pronounced as the ay in 'play' in Canadian English or as e in 'bebe' in 
Spanish. It would seem as though those two pronunciations are reversed.

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