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[pc1966]

I believe its a Euroland 'calculated' average value of Eurozone countries exchange rates at the time. Supposed equivalent of a Euro before it existed.

It did and was called the ECU (before it, the EUA, but I never had dealing with that as a little before my time in business).

European Currency Unit - Wikipedia

en.wikipedia.org

Commonly used for large pan-Europe projects (e.g. by the like of ESA) so everyone had a similar pricing model to agree upon.

 

[nicebutdim]

It did and was called the ECU (before it, the EUA, but I never had dealing with that as a little before my time in business).

European Currency Unit - Wikipedia

en.wikipedia.org

Commonly used for large pan-Europe projects (e.g. by the like of ESA) so everyone had a similar pricing model to agree upon.

Interesting. I remember much talk of the ECU from my childhood, but never realised it had been in use (even if not in circulation). I'd thought the ECU was an idea being mooted at that time and that they'd settled on Euro as a less unusual name, once an actual European currency had been agreed upon.

 

[pc1966]

Interesting. I remember much talk of the ECU from my childhood, but never realised it had been in use (even if not in circulation). I'd thought the ECU was an idea being mooted at that time and that they'd settled on Euro as a less unusual name, once an actual European currency had been agreed upon.

I think at one point they talked about calling the pan-Europe currency the ECU as major businesses were already using it, but decided to go with something far more catchy and likely to get the public imagination fired up.

Then it became the Euro...

 

[DPG]

I think at one point they talked about calling the pan-Europe currency the ECU as major businesses were already using it, but decided to go with something far more catchy and likely to get the public imagination fired up.

Then it became the Euro...

I'm sure I've got an ECU coin in my coin collection.