European Payments Union
Summary of European Payments Union
An intra-European mechanism for the periodic settlement of trade balances. The EPU was established July 1, 1950, among the members of the Organization for European Economic Cooperation (read this and related legal terms for further details) (OEEC) to promote trade equilibrium; to accomplish this, the OEEC nations made a quota contribution equal to 15 percent of all visible and invisible transactions between members and the sterling area during 1949. The United States made an initial contribution of $350 million. Transactions of the EPU were in a unit of account equal to the U.S. dollar. In 1958 the European Payments Union was sup-planted by the European Monetary Cooperation Fund.
(Main Author: William J. Miller)
European Payments Union
Embracing mainstream international law, this section on european payments union explores the context, history and effect of the area of the law covered here.
Resources
Further Reading
- The entry “european payments union” in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, the Encyclopaedic Dictionary of International Law, 2009), Oxford University Press
Hierarchical Display of European Payments Union
Finance > Monetary relations > Monetary relations > Monetary agreement
European Payments Union
Concept of European Payments Union
See the dictionary definition of European Payments Union.
Characteristics of European Payments Union
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Resources
Translation of European Payments Union
- Spanish: Unión Europea de Pagos
- French: Union européenne des paiements
- German: Europäische Zahlungsunion
- Italian: Unione europea dei pagamenti
- Portuguese: União Europeia de Pagamentos
- Polish: Europejska Unia Płatnicza
Thesaurus of European Payments Union
Finance > Monetary relations > Monetary relations > Monetary agreement > European Payments Union
See also
- Canada lynx
- Canadian lynx
- Eurasian lynx
- Iberian lynx
- Bobcat
- EPU
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