European Union (EU)


 

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European Union (EU)

An economic association of European countries founded by the Treaty of Rome in 1957 as a common market for six nations. It was known as the European Community until January 1, 1994 and currently comprises 15 European countries. Its goals are a single market for goods and services without any economic barriers, and a common currency with one monetary authority.



European Union (EU)

Similar Matches

European Payments Union

European Payments Union

An 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.


European option

European option

Option that may be exercised only at the expiration date. Related: American option.


European Monetary System (EMS)

European Monetary System (EMS)

A system adopted by European Community members with the aim of promoting stability by limiting exchange-rate fluctuations. The system was originated in 1979 by the nine members of the European Community (EC). The EMS comprised three principal elements: the European Currency Unit (ECU), the monetary unit used in EC transactions; the Exchange Rate Mechanism, ERM, whereby those member states taking part agreed to maintain currency fluctuations within certain agreed limits; and the European Monetary Cooperation Fund, which issues the ECU and oversees the ERM. The 1992 Maastricht Treaty provided for the move to Economic and Monetary Union (EMU) , including a European Monetary Institute to coordinate the economic and monetary policy of the EU, a European Central Bank (ECB) to govern these policies, and the presentation of a single European currency.


Central and Eastern European countries

Central and Eastern European countries

Refers, informally, usually to the former Communist countries of Europe.


European Community

European Community

The current community - current members are Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, Sweden and United Kingdom.


Further Suggestions

European Monetary Agreement
European terms
European, Australia, and Far East index (EAFE index)
European Association of Securities Dealers Automated Quotation
European Monetary System
European Recovery Program
European Options Exchange (EOE)
European Central Bank (ECB)
European Economic Community
European Communities
European Currency Unit (ECU)
Single European Act
European style exercise
European Free Trade Association
European Exercise
European Economic Area
European Monetary System
European Currency Unit
European style option
New European Exchange (NEWEX)
European exchange rate mechanism (ERM)
European Association of Securities Dealers Automated Quotation (EASDAQ)
Single European Act


 
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