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European Currency Unit |
Also found in: Dictionary/thesaurus, Financial, Wikipedia, Hutchinson | 0.04 sec. |
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European Currency Unit: see European Monetary System European Central Bank (ECB) and a common currency. The ECB, which was established in 1998, is responsible for setting a single monetary policy and interest rate for the adopting nations, in conjunction with their national central banks. ..... Click the link for more information. . |
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The value of the euro in relation to other currencies, including the dollar, will not be known until January 1, 1999, but it is likely to be near the value of the European currency unit (ECU), which is now about $1. Kneppeck said his parents aren't pleased with what they see as Germany losing its identity when it joined the European Union and abandons the Deutschmark for the European Currency Unit. The European Currency Unit (ECU), or euro, would be nothing but the Deutsche Mark in disguise, says Laughland. |
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