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European Currency Unit |
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European Currency UnitA weighted average of European Community currencies with weighting tending to be proportional to a country's economy. The ecu has been superseded by the euro.Similar MatchesEuropean Association of Securities Dealers Automated Quotation (EASDAQ)European Association of Securities Dealers Automated Quotation (EASDAQ)European equivalent of Nasdaq. European termsEuropean termsA foreign exchange quotation that states the foreign currency price of one US dollar. European style optionEuropean style optionAn option which can only be exercised by the holder at expiry (unlike American style options which can be exercised at any time until expiry). 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. European Payments UnionEuropean Payments UnionAn international arrangement for settling payments among member countries in Europe during a period in which many of the countries' currencies were not convertible. The EPU functioned from 1950 to 1958, after which it was replaced by the EMA. Further SuggestionsEuropean Recovery ProgramEuropean Options Exchange (EOE) European Monetary System European Economic Community Single European Act European Association of Securities Dealers Automated Quotation European option European Exercise European Free Trade Association European style exercise European Union (EU) European Currency Unit (ECU) European Central Bank (ECB) European Monetary System (EMS) European Community European Communities European Monetary Agreement European Economic Area European, Australia, and Far East index (EAFE index) European exchange rate mechanism (ERM) Single European Act Central and Eastern European countries New European Exchange (NEWEX) |
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