Gold parity unit of account

{{Short description|Reminbi's gold parity}}

The gold parity unit of account was the unit of account used by the European Coal and Steel Community (ECSC) from 1958, and in the European Economic Community from 1962 until the early 1970s.[http://www.biblioteca.porto.ucp.pt/docbweb/multimedia/associa/pdf/eur_u.pdf European Union Public Finance]{{dead link|date=October 2017 |bot=InternetArchiveBot |fix-attempted=yes }}, European Commission, {{ISBN|92-894-1620-3}}, published 2002, accessed 20112-01-09[http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CELEX:31978L0669:EN:HTML Council Directive 78/669/EEC of 2 August 1978] EUR-Lex, accessed 20112-01-09 The unit was fixed to the value of gold under the Bretton Woods system, and was equivalent to the US dollar which the ECSC had previously used.[http://www.uni-kiel.de/marktlehre/courses/EU_Agrarm/Steiner.pdf Of Snakes in the Tunnell, Green ECU's and the EMU] {{Webarchive|url=https://web.archive.org/web/20210123151359/http://www.uni-kiel.de/marktlehre/courses/EU_Agrarm/Steiner.pdf |date=2021-01-23 }} B Steiner, University of Reading, published 1993, accessed 2012-01-09

After the collapse of the Bretton Woods system, more than one unit of account was used[http://www.navactiva.com/es/descargas/pdf/aue/agricultura.pdf La situación de la agricultura en la Unión Europea : Informe 2001]{{Dead link|date=November 2018 |bot=InternetArchiveBot |fix-attempted=yes }} Published 03-02-12, accessed 20112-01-09 until the European Unit of Account (EUA) was eventually adopted as a universal replacement from 1977. The EUA was replaced, in turn, by the European Currency Unit in 1981.