| 单词 | hard Ecu |
| 释义 | hard Ecu A proposal for a European Currency Unit (Ecu) that would initially be equal in value to a bundle of European currencies, but could not subsequently be devalued relative to any member currency. The hard Ecu would thus be at least as hard as the hardest member currency, and harder than the remainder. This should make the hard Ecu and debt denominated in it attractive as assets both to private investors and to national authorities as a form of foreign exchange reserves. The concept has been superseded by the adoption of the Euro. |
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