Listen to a Business English Dialogue About European currency units
Victoria: Hi Michael, do you know what “European Currency Units” are in finance?
Michael: Hi Victoria, yes, they were a basket of currencies used as the unit of account for the European Community before the euro was introduced.
Victoria: Oh, I see. So, they were like a precursor to the euro, used to facilitate economic and monetary integration among European countries?
Michael: Exactly, Victoria. The European Currency Units played a significant role in the development of the European Union’s monetary system before the adoption of the euro.