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| | A Concise Encyclopedia of the European Union --E-- |
 | | In 1995, however, the European Council agreed to abandon the name in favour of the euro, in deference to German concern that the ECU would not be credible, given its track record of repeated devaluation occasioned by the weakness of several of its components, notably the lira, the peseta, the escudo and the drachma. |
 | | Their assertions that European unity, even peace, depended on EMU had not convinced ordinary people, who remained largely resistant to losing their currencies in Germany, France, the UK, Sweden and Denmark (in Italy and Spain, as in the de facto D-Mark zone of Belgium and The Netherlands, the population was more favourable). |
 | | The European Council (not to be confused with the Council of Ministers) refers to the twice-yearly, or occasionally more frequent, summit meetings of EU heads of government (plus the directly elected presidents of France and Finland) and the president of the Commission. |
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