The ECU as an Investment Currency

  • David F. Lomax
  • Herbert Christie


If one starts by asking the question why there should be investments in the ECU, a perfectly good answer is to say ‘why not?’. People invest in coins and stamps, not to mention more exotic instruments such as old bottles and pottery. In some of those cases there is an element of trying to overcome the second law of thermodynamics by creating harmony out of chaos, and by capitalizing on the scarcity value of particular assets. But in the case of interest-bearing or income-bearing investments, people buy farm-land, property, and various exotic financial assets. What then is so repulsive about the ECU that it should not be one of the acceptable investment assets?


Interest Rate Bond Market National Currency National Market Currency Unit 
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  1. 1.
    P. Bofinger, ‘Private ECUs: Unhappy Triad’, Intereconomics, September/October 1986.Google Scholar
  2. 2.
    Rainer S. Masera, ‘An increasing role for the ECU’, Temi di discussione del Servizio Studi, Banca d’Italia, 1986.Google Scholar

Copyright information

© Catholic University of Leuven, Belgium 1989

Authors and Affiliations

  • David F. Lomax
  • Herbert Christie

There are no affiliations available

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