In monetary terms is there a difference between an ECU and a EURO?
Question
#124190. Asked by REDVIKING57. (Nov 12 11 6:39 AM)
dippo
The ECU, or European Currency Unit, was used for financial transactions before the introduction of the Euro. Unlike the Euro, it was not a real (hard) currency. It was used for accountancy purposes within the European Community to eliminate the impact of fluctuations in the value of member states' currencies. At launch, the value of the Euro was fixed at one ECU, and the ECU was dropped.
This quiz was created from some research I did for my term-paper on the European Union and the European Monetary Union. The Euro was first circulated on January 1, 2002.
"Ask FunTrivia" is for entertainment purposes only, and answers offered are unverified and unchecked by
FunTrivia. We cannot guarantee the accuracy or veracity of ANY statement posted. Feel free to post an updated
response
if you feel that an answer is inadequate or incorrect. Please
thoroughly research items where accuracy is important to you using multiple reliable sources. By accessing our
website, you agree to be bound by our terms of service.
Sign up to see all responses!
