European Economic and Trade Alliance

The European Economic and Trade Alliance (in French: Alliance commerciale et economique européenne; in Italian: Alleanza Economica e commerziale Europea; in Spanish: Alianza Economica y Comercial Europea; in German: Europäischen Wirtschafts-und Trade Alliance; in Portuguese: Aliança Económica e Comércial Europeia) is a major European trade and economic bloc.

History
The ETA was founded in 1962 in the historic Vienna Accord. European delegations consisting of Euskadi, Spain, Europa and West Germany met to crate a joint economic network, firstly to promote trade among the various member states and also to create a stronger link and thus less reason to go to war between oneanother.

Members
The ETA comprises 11 European nations. The member states of the ECU include Andorra, Austria, Europa, Euskadi, France, West Germany, Liechtenstein, Monaco, Portugal, Spain and the United Kingdom.

The ECU
The European Currency Unit (ECU) is a proposed currency for all member nations. All member nations' currencies are pegged to the ECU. The ECU is worth 0.666 Europan Lira, __French Francs, 1.955 West German marks, 166.38 Spanish pesetas, __Euskadi Pesetas and 200.48 Portuguese escudos. The United Kingdom has not decided to sign the ECU agreement so its currency is not pegged to the ECU.