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The "ECU" is the European Currency Unit as defined by Community legislation, i.e. Regulation No. 3180/78 of 18 December 1978 of the Council of Ministers of the European Communities, as amended by Regulation No. 2626/84 of 15 September 1984 (1), or by any subsequent Regulation.
These regulations define the ECU as a composite currency unit (basket) consisting of specified amounts of the currencies of the Member States of the European Communities. These amounts, which can be revised (see paragraph 3 hereafter), are presently the following: "