European Monetary Cooperation Fund

European Monetary Cooperation Fund
(EMCF)
  Established in 1973 as part of the Snake, and absorbed in 1979 into the European Monetary System (EMS) where it is the reserve fund that supports the European Currency Unit (ECU). It consists of 20% of the gold and dollar reserves of the Member States.

Glossary of the European Union and European Communities . 2014.

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