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European Economic Community
The European Economic Community (EEC) was a regional organization created by the Treaty of Rome of 1957,Today the largely rewritten treaty continues in force as the ''Treaty on the functioning of the European Union'', as renamed by the Lisbon Treaty. aiming to foster economic integration among its member states. It was subsequently renamed the European Community (EC) upon becoming integrated into the first pillar of the newly formed European Union in 1993. In the popular language, however, the singular ''European Community'' was sometimes inaccuratelly used in the wider sense of the plural ''European Communities'', in spite of the latter designation covering all the three constituent entities of the first pillar. In 2009, the EC formally ceased to exist and its institutions were directly absorbed by the EU. This made the Union the formal successor institution of the Community. The Community's initial aim was to bring about economic integration, including a common market a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Communities
The European Communities (EC) were three international organizations that were governed by the same set of institutions. These were the European Coal and Steel Community (ECSC), the European Atomic Energy Community (EAEC or Euratom), and the European Economic Community (EEC); the last of which was renamed the ''European Community'' (''EC'') in 1993 by the Maastricht Treaty establishing the European Union. The European Union was established at that time more as a concept rather than an entity, while the Communities remained the actual subjects of international law impersonating the rather abstract Union, becoming at the same time its first pillar. In the popular language, however, the singular ''European Community'' was sometimes inaccurately used interchangeably with the plural phrase, in the sense of referring to all three entities. The European Coal and Steel Community ceased to exist in 2002 when its founding treaty expired. The European Community was merged with the seco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Languages Of The European Union
The European Union (EU) has 24 official languages, of which threeEnglish, French and Germanhave the higher status of "procedural" languages of the European Commission (whereas the European Parliament accepts all official languages as working languages). Irish previously had the lower status of "treaty language" before being upgraded to an official and working language in 2007. However, a temporary derogation was enforced until 1 January 2022. The three procedural languages are those used in the day-to-day workings of the institutions of the EU. The designation of Irish as a "treaty language" meant that only the treaties of the European Union were translated into Irish, whereas Legal Acts of the European Union adopted under the treaties (like Directives and Regulations) did not have to be. Luxembourgish and Turkish, which have official status in Luxembourg and Cyprus, respectively, are the only two official languages of EU member states that are not official languages of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Luxembourgish Franc
The Luxembourg franc (''F'' or ISO ''LUF'', lb, Frang), subdivided into 100 centimes, was the currency of Luxembourg between 1854 and 2002, except in 1941–44. In 1944–2002, its value was equal to that of the Belgian franc. The franc remained in circulation until 2002, when it was replaced by the euro. During the period 1999–2002, the franc was officially a subdivision of the euro (€1 = 40.3399F), but the euro did not circulate in physical form before 1 January 2002. Under the principle of "no obligation and no prohibition", financial transactions could be conducted in euros and francs, but physical payments could be made only in francs, as euro notes and coins were not available yet. History The conquest of most of western Europe by Revolutionary and Napoleonic France led to the French franc's wide circulation, including in Luxembourg. However, incorporation into the Netherlands in 1815 resulted in the Dutch guilder becoming Luxembourg's currency. Following Bel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Italian Lira
The lira (; plural lire) was the currency of Italy between 1861 and 2002. It was first introduced by the Napoleonic Kingdom of Italy in 1807 at par with the French franc, and was subsequently adopted by the different states that would eventually form the Kingdom of Italy in 1861. It was subdivided into 100 ''centesimi'' (singular: ''centesimo''), which means "hundredths" or "cents". The lira was also the currency of the Albanian Kingdom from 1941 to 1943. The term originates from ''libra'', the largest unit of the Carolingian monetary system used in Western Europe and elsewhere from the 8th to the 20th century. The Carolingian system is the origin of the French '' livre tournois'' (predecessor of the franc), the Italian lira, and the pound unit of sterling and related currencies. In 1999 the euro became Italy's unit of account and the lira became a national subunit of the euro at a rate of €1 = Lit. 1,936.27, before being replaced as cash in 2002. History Etymo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Irish Pound
The pound ( Irish: ) was the currency of the Republic of Ireland until 2002. Its ISO 4217 code was IEP, and the symbol was £ (or IR£ for distinction). The Irish pound was replaced by the euro on 1 January 1999. Euro currency did not begin circulation until the beginning of 2002. First pound The earliest Irish coinage was introduced in the late 10th century, with an £sd system of one pound divided into twenty shillings, each of twelve silver pence. Parity with sterling was established by King John around 1210, so that Irish silver could move freely into the English economy and help to finance his wars in France. However, from 1460, Irish coins were minted with a different silver content than those of England, so that the values of the two currencies diverged. During the Williamite War of 1689–1691, King James II, no longer reigning in England and Scotland, issued an emergency base-metal coinage known as gun money. In 1701, the relationship between the Irish pound a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Greek Drachma
The drachma ( el, δραχμή , ; pl. ''drachmae'' or ''drachmas'') was the currency used in Greece during several periods in its history: # An ancient Greek currency unit issued by many Greek city states during a period of ten centuries, from the Archaic period throughout the Classical period, the Hellenistic period up to the Roman period under Greek Imperial Coinage. # Three modern Greek currencies, the first introduced in 1832 by the Greek King Otto () and the last replaced by the euro in 2001 (at the rate of 340.75 drachmae to the euro). The euro did not begin circulating until 2001 but the exchange rate was fixed on 19 June 2000, with legal introduction of the euro taking place in January 2002. It was also a small unit of weight.. Ancient drachma The name ''drachma'' is derived from the verb (, "(I) grasp"). It is believed that the same word with the meaning of "handful" or "handle" is found in Linear B tablets of the Mycenean Pylos. Initially a drachma was a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deutsche Mark
The Deutsche Mark (; English: ''German mark''), abbreviated "DM" or "D-Mark" (), was the official currency of West Germany from 1948 until 1990 and later the unified Germany from 1990 until the adoption of the euro in 2002. In English, it was typically called the "Deutschmark" (). One Deutsche Mark was divided into 100 pfennigs. It was first issued under Allied occupation in 1948 to replace the Reichsmark and served as the Federal Republic of Germany's official currency from its founding the following year. On 31 December 1998, the Council of the European Union fixed the irrevocable exchange rate, effective 1 January 1999, for German mark to euros as DM 1.95583 = €1. In 1999, the Deutsche Mark was replaced by the euro; its coins and banknotes remained in circulation, defined in terms of euros, until the introduction of euro notes and coins on 1 January 2002. The Deutsche Mark ceased to be legal tender immediately upon the introduction of the euro—in contrast to the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
French Franc
The franc (, ; sign: F or Fr), also commonly distinguished as the (FF), was a currency of France. Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money. It was reintroduced (in decimal form) in 1795. After two centuries of inflation, it was redenominated in 1960, with each (NF) being worth 100 old francs. The NF designation was continued for a few years before the currency returned to being simply the franc. Many French residents, though, continued to quote prices of especially expensive items in terms of the old franc (equivalent to the new centime), up to and even after the introduction of the euro (for coins and banknotes) in 2002. The French franc was a commonly held international reserve currency of reference in the 19th and 20th centuries. Between 1998 and 2002, the conversion of francs to euros was carried out at a rate of 6.55957 francs to 1 euro. History The French Franc tra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Belgian Franc
The Belgian franc ( nl, Belgische frank, french: Franc belge, german: Belgischer Franken) was the currency of the Kingdom of Belgium from 1832 until 2002 when the Euro was introduced. It was subdivided into 100 subunits, each known as a in Dutch, in French or a in German. History The ''gulden'' (guilder) of 20 '' stuivers'' was the currency of present-day Belgium from the 15th to 19th centuries until its replacement in 1832 by the Belgian franc. Its value differed from the gulden of the Dutch Republic during the latter's separation from Belgium from 1581 to 1816. Standard coins issued in Belgium include: * From 1618: the ''patagon'' or ''Albertusthaler'' of 24.55 g fine silver, worth 2.4 gulden or 48 stuiver (or 10.23 g fine silver per gulden) * From 1754: the '' kronenthaler'' of 25.71 g fine silver, worth 3.15 gulden ''currency'' or 2.7 ''gulden of exchange'' (9.52 g silver per exchange gulden). The French silver écu of 26.67 g silver was also accepted for 2.8 exchange g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Currency Unit
The European Currency Unit (, ; , ECU, or XEU) was a unit of account used by the European Economic Community and composed of a basket of member country currencies. The ECU came in to operation on 13 March 1979 and was assigned the ISO 4217 code. The ECU replaced the European Unit of Account (EUA) at parity in 1979, and it was later replaced by the euro (EUR) at parity on 1 January 1999. As a unit of account, the ECU was not a circulating currency and did not replace or override the value of the currency of EEC member countries. However, it was used to price some international financial transactions and capital transfers. Exchange rate Using a mechanism known as the "snake in the tunnel", the European Exchange Rate Mechanism was an attempt to minimize fluctuations between member state currencies—initially by managing the variance of each against its respective ECU reference rate—with the aim to achieve fixed ratios over time, and so enable the European Single ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Unit Of Account
The European Unit of Account (EUA) was a unit of account most notably used in the European Communities from 1975 to 1979, when it was replaced at parity by the European Currency Unit, in turn replaced at parity in 1999 by the euro. The EUA was introduced as the internal unit of account for the European Payments Union when that organisation was formed in 1950. The EUA was defined as 0.888671 grams of gold, or one US dollar. The unit was first used outside the EPU in 1961, when Kredietbank Luxembourgeoise issued a bond denominated in EUA. After the collapse of the Bretton Woods system, the EUA was redefined as a basket of European currencies. The EUA was used for Lomé Convention and European Investment Bank operations before being gradually introduced into other sectors of Community activity. The EUA basket was designed to have the same value in mid-1974 as the IMF special drawing rights basket, both worth US$1.20635; they immediately moved apart in value. Different units of acco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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