RE: ECU and euro - both exist

From: Alexander Rautenberg (
Date: Thu Oct 23 1997 - 04:28:28 EDT

There have been ECU coins, but the only ones I have known of have come
from the Belgian government. They should all be in the hands of
collectionists now, and I think that was their purpose. In most European
countries, though, you can open bank accounts in ECU; they are treated
like 'foreign currency' accounts. So in a way the currency ECU exists as

But until now I have always supposed that the Euro would substitute the
ECU as the official unit in intra-community clearing once it has been
introduced. So that all EU transactions will be expressed in Euro
instead of ECU. The Euro will not only substitute the member countries
currencies but also the one of the Community (which by the way is the
only logical approach; where's the point in a EU common currency when
the EU institutions themselves keep their own one).

If this is so, why is there any need to have two different symbols then?
If this is not so, could someone contribute some information on what's
the relationship Euro/ECU?

>-----Original Message-----
>From: Winkler, Arnold F []
>Sent: dimecres, 22 / octubre / 1997 21:39
>To: Multiple Recipients of
>Subject: RE: ECU and euro - both exist
>I did not know that, nor did anybody I ever spoke to. There are euro
>coins available already, they were distributed at a EC meeting some
>>From: Gary Roberts[SMTP:gar@sparc.SanDiegoCA.NCR.COM]
>>Sent: Wednesday, October 22, 1997 2:49 PM
>>To: Multiple Recipients of
>>Subject: Re: ECU and euro - both exist
>> > From: "Winkler, Arnold F" <>
>> >
>> > life by January 1999. There are no coins or notes in ECU currency -
>> > that explains why we have not seen them. The ECU is only electronic
>> > money, the euro will be real in your pockets.
>>If anything, this only strengthens your other arguments, but while the
>>ECU was never in general circulation as such, there were ECU coins
>>minted. I haven't a clue to their legal status.
>> *

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