European Currency Unit

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Related to European Currency Unit: European Monetary System

European Currency Unit:

see European Monetary SystemEuropean Monetary System,
arrangement by which most nations of the European Union (EU) linked their currencies to prevent large fluctuations relative to one another. It was organized in 1979 to stabilize foreign exchange and counter inflation among members.
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References in periodicals archive ?
1, going off the European Currency Unit (ECU), a transitional system used since 1990.
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.
qOther names considered for the single currency included the schilling, the thaler and the ecu, the European Currency Unit, which represents the basket of currencies belonging to the European Monetary System.
OTHER names considered included schilling, thaler and ecu, after the European Currency Unit.
Concerns early in the quarter over the possible future weakness of the European Currency Unit may have also contributed to the decline of the German mark.
It stands for European Currency Unit and took its name from an old French coin.
as this name is already familiar as the acronym for the existing European Currency Unit, and has a long history as a monetary denomination in its own right (it was the name of a coin minted in Continental Europe in the thirteenth and fourteenth centuries).

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