European Currency Unit

Collins dictionary of law. . 2001.


European Currency Unit
(ECU)
The first quasi-currency for Europe. Together with the Exchange Rate Mechanism, the ECU formed the European Monetary System which was established in 1979. 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. The ECU was never issued as a note or coin, but it formed the basis for the development of the Euro, the European Union's single currency.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • European Currency Unit — see ↑ECU (n). • • • Main Entry: ↑European …   Useful english dictionary

  • European Currency Unit —   [jʊərə piːən kʌrənsɪ juːnɪt, englisch], Abkürzung ECU, die Europäische Währungseinheit …   Universal-Lexikon

  • European Currency Unit — Infobox Currency iso code = XEU using countries = European Community and later the European Union pegged with = The ECU was a basket of currencies symbol = ₠ (rare), ECU or XEU plural = usually ECUs used coins = Gibraltar issued commemorative Ecu …   Wikipedia

  • European Currency Unit — ( ECU) An index of foreign exchange consisting of European currencies, originally devised in 1979. Also see Euro. Bloomberg Financial Dictionary * * * European Currency Unit European Currency Unit ➔ ECU …   Financial and business terms

  • European Currency Unit — Gewicht der Nationalwährungen im ECU Währungskorb Währung 13. März 1979 16. Sept. 1984 17. Sept. 1984 21. Sept 1989 21. Sept. 1989 31. Dez. 1998 BEF 9.64% 8.57% 8.183% DEM 32.98% 32.08% 31.955% DKK 3.06% 2.69% 2.653% …   Deutsch Wikipedia

  • European currency unit — Gewicht der Nationalwährungen im ECU Währungskorb Währung 13. März 1979 16. Sept. 1984 17. Sept. 1984 21. Sept 1989 21. Sept. 1989 31. Dez. 1998 BEF 9.64% 8.57% 8.183% DEM 32.98% 32.08% 31.955% DKK 3.06% 2.69% 2.653% …   Deutsch Wikipedia

  • European Currency Unit — Pour les articles homonymes, voir ECU. L’European Currency Unit, en français Unité de compte européenne (acronyme usuel : ECU, lu comme le mot français écu, code ISO 4217 : XEU) a été l unité de compte de la Communauté européenne avant… …   Wikipédia en Français

  • European Currency Unit — ECU A currency medium and unit of account created in 1979 to act as the reserve asset and accounting unit of the European Monetary System (EMS). The value of the ECU was calculated as a weighted average of a basket of specified amounts of… …   Accounting dictionary

  • European Currency Unit — ECU A former currency medium and unit of account created in 1979 to act as the reserve asset and accounting unit of the European Monetary System (EMS). The value of the ECU was calculated as a weighted average of a basket of specified amounts of… …   Big dictionary of business and management

  • European Currency Unit — n. Euro, unit of currency introduced in 1999 as the composite monetary unit of the members of the European Union, €, ECU …   English contemporary dictionary

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