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band
1 A trading range, set by upper and lower limits, of a commodity or currency. The European Monetary System and Bretton Woods system (see Bretton Woods Conference) both established such ranges within ...
Black Wednesday
Wednesday, 16 September 1992, when sterling was forced out of the Exchange Rate Mechanism, leading to a 15% fall in its value against the Deutschmark. See feature European Economic and Monetary Union.
convergence criteria
The economic tests used to determine whether member states of the European Union are ready to adopt the Euro, as set out in the 1991 Masstricht Treaty. The four principal criteria concern (i) the ...
electronic mail survey
(EMS)A relatively easy, low cost, and fast method of conducting marketing surveys in which potential respondents are sent the questionnaire by group mail. Respondents e-mail the completed ...
euro
Name for the new currency that is due to come into being on 1 January 1999 following European Monetary Union (cf. Eurofed).
European Central Bank
(ECB)A central bank of the European Union to which member states who have adopted European Monetary Union (EMU) are committed by the Maastricht Treaty. The ECB was set up in 1998 and became active in ...
European Currency Unit
(Ecu)A unit of account introduced by the European Economic Community when forming the European Monetary System in 1979. The Ecu was a form of international money used by various official European ...
European Monetary Institute
A European organization that was set up to study the problems of organizing a European Central Bank.
European Monetary System
(EMS)A European organization set up in 1979 to coordinate monetary policy and exchange rates in Europe. Its main activities were running the Exchange Rate Mechanism and planning European Monetary ...
eurozone
The 13 member countries of the European Union that have adopted the euro as their currency, namely Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, The Netherlands, ...
green currency
The currencies of members of the European Union using artificial rates of exchange for the purposes of the Common Agricultural Policy (CAP). Their object was to protect farm prices in the member ...
Maastricht Treaty
A treaty on European economic and monetary union, agreed by the heads of government of the twelve member states of the European Community at a summit meeting in Maastricht in December 1991. ...
monetary union
A group of countries using a single currency. See European Economic and Monetary Union.
