Scribd Logo
Upload

Welcome to Scribd!

  • The European Union With The Necessary Impetus For Its Development and To Define The General Political Guidelines Thereof

    Uploaded by

    bharath_mv7-1
    3 views1 page
    The document discusses the European Currency Unit (ECU) which was a basket of European currencies that was replaced by the euro on a 1:1 basis in 1999. It also mentions the European Economic Area (EEA) which encompasses EU member states as well as Iceland, Liechtenstein, and Norway in a free-trade area. Finally, it discusses the European Financial Stabilisation Mechanism (EFSM) which allows the EU Commission to raise up to €60 billion for lending to EU member states experiencing exceptional financial circumstances beyond their control.

    Original Description:

    dsafasdfasdfds

    Original Title

    The European Union With the Necessary Impetus for Its Development and to Define the General Political Guidelines Thereof

    Copyright

    © © All Rights Reserved

    Available Formats

    DOC, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document discusses the European Currency Unit (ECU) which was a basket of European currencies that was replaced by the euro on a 1:1 basis in 1999. It also mentions the European Economic Area (EEA) which encompasses EU member states as well as Iceland, Liechtenstein, and Norway in a free-trade area. Finally, it discusses the European Financial Stabilisation Mechanism (EFSM) which allows the EU Commission to raise up to €60 billion for lending to EU member states experiencing exceptional financial circumstances beyond their control.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as doc, pdf, or txt
    3 views1 page

    The European Union With The Necessary Impetus For Its Development and To Define The General Political Guidelines Thereof

    Uploaded by

    bharath_mv7-1
    The document discusses the European Currency Unit (ECU) which was a basket of European currencies that was replaced by the euro on a 1:1 basis in 1999. It also mentions the European Economic Area (EEA) which encompasses EU member states as well as Iceland, Liechtenstein, and Norway in a free-trade area. Finally, it discusses the European Financial Stabilisation Mechanism (EFSM) which allows the EU Commission to raise up to €60 billion for lending to EU member states experiencing exceptional financial circumstances beyond their control.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as doc, pdf, or txt
    of 1

    the European Union with the necessary impetus for its development and to define the general political

    guidelines thereof. See also Council of the European Union (EU Council)
    European Currency Unit (ECU)
    Prior to Stage Three of EMU the ECU was a !as"et currency made up of the sum of fi#ed amounts of $%
    out of the then $& currencies of the EU Mem!er States. The value of the ECU was calculated as a weighted
    average of the value of its component currencies. The ECU was replaced !y the euro on a one'for'one !asis
    on $ (anuary $))).
    European Economic Area (EEA)
    * free'trade area encompassing EU Mem!er States and +celand ,iechtenstein and -orway.
    European Financial Stabilisation Mechanism (EFSM)
    *n EU facility !ased on *rticle $%%(%) of the Treaty that allows the Commission to raise up to ./0 !illion on
    !ehalf of the EU for lending to EU Mem!er States e#periencing or !eing threatened with e#ceptional
    circumstances !eyond their control.

    You might also like