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European Currency Unit (ECU) |
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European Currency Unit (ECU)An index of foreign exchange consisting of European currencies, originally devised in 1979. See also: Euro.European Currency Unit (ECU) Similar MatchesEuropean ExerciseEuropean ExerciseA feature of an option that stipulates that the option may only be exercised at its expiration. Therefore, there can be no early assignment with this type of option. Single European ActSingle European ActTreaty, signed in Luxembourg and The Hague and entering into force 1 July 1987, completing the Single Market. See Europe 1992. European Association of Securities Dealers Automated Quotation (EASDAQ)European Association of Securities Dealers Automated Quotation (EASDAQ)European equivalent of Nasdaq. European Central Bank (ECB)European Central Bank (ECB)Bank created to monitor the monetary policy of the 11 countries that have converted to the Euro from their local currencies. The 11 countries are: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain. European Monetary SystemEuropean Monetary SystemThe monetary system of the EC which attempts to reduce the currency variations between members. The EMS became operational on March 13th, 1979, as the successor to the 'snake in a tunnel'. Its aim was to create a zone of monetary stability in Europe. Its general principles were outlined at the Bremen Summit in July 1978, and the system was presented in detail at the Brussels Summit in December. The EMS consists of three mechanisms: the ERM; accounting and transaction mechanisms related to the ECU; and credit mechanisms to enable central banksą intervention in the currency markets. All the European Community countries belong to the EMS, although not all of them participate in the ERM. Further SuggestionsEuropean Monetary System (EMS)European Economic Area New European Exchange (NEWEX) European terms European Free Trade Association European Community European Monetary Agreement Single European Act European Recovery Program European, Australia, and Far East index (EAFE index) European style exercise European Communities European Payments Union European Association of Securities Dealers Automated Quotation European Currency Unit European Options Exchange (EOE) European exchange rate mechanism (ERM) European style option Central and Eastern European countries European Monetary System European Economic Community European option European Union (EU) |
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