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| | A Concise Encyclopedia of the European Union --E-- |
 | | Little caring for national political independence, the multinational corporations saw in EMU the prospect of regional currency stability, enabling them to plan capital expenditure and to budget costs and revenue with more assurance. |
 | | 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). |
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