A measure of how far the exchange rates of currencies of members of the Exchange Rate Mechanism (ERM) of the European Monetary System (EMS) diverged from their agreed central parities with the European Currency Unit (ECU).
A unit of account introduced by the European Economic Community when forming the European Monetary System in 1979, used primarily by official European bodies in accounting, and superseded by the euro in 1999.
Proposal for a European Currency Unit (Ecu) that would have been non-devaluative, with implications for investment and foreign exchange reserves
