European Federation Currency

From IBWiki

In 1981, several Western European countries met at Brussels for the first time regarding the multiple currencies in use in Europe and how they were affecting trade and the economies of all European countries. This first Congress resolved to make silver the standard metal for use within European currencies. This cooperative effort led to the Unified Currency Convention in 1988; which was dedicated to forming a unified currency for Europe, along the lines of the old Latin Monetary Union, but including more countries. The Convention discussed a wide range of issues concerning banking systems, exchange rates and economic factors in individual countries.

By 1994, the principle countries had agreed upon the basic issues and in 1996 the European Federation currency plan was made effective. All the old national currencies were withdrawn and replaced with EF money at a predetermined exchange rate.

While the Federated Kingdoms and the Scandinavian Realm were invited to send ministers to the Convention, the FK has not as of yet made plans to adopt the European pound as its currency. The SR opted to continue with their own local Scandinavian Currency Union, with the rigsdaler as its chief unit.

For the most part, the EF Central Bank has stipulated that the following coins denominations are to be considered "typical": ½, 1, 3, 6 pence; 1, 5 and 10 shillings; 1 pound. Notes are 1, 5, 10, 20, 100 and 200 pounds. Some countries are producing odd denominations, such as Castile and Leon's 3 escudo note.

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All denominations are equal in value

1 livre	= 20 sous	= 240 deniers	Northern France, Monaco, Saugeais
1 livre	= 20 soles	= 240 denares	Southern France
1 lliura	= 20 sous	= 240 diners	Andorra
1 crona	= 20 soedi	= 240 pfeinges	Kingdom of Jervaine
1 lira	= 20 soldi	= 240 denari	Italy, The Holy See, San Marino, Order of Malta
1 piastra	= 20 soldi	= 240 tornesi	Kingdom of the Two Sicilies (Southern Italy)
1 escudo	= 20 sols	= 240 denars	Kingdom of Aragon)
1 escudo	= 20 pesetas	= 240 denarios	Kingdom of Castile and Leon (see Castilian Currency for more info)
1 Convention Thaler	= 20 Neuegroschen	= 240 Pfennige	Northern Germany (except Holstein, Hamburg, Lübeck, & Mecklenburg)
1 Convention Thaler	= 20 Kreuzer	= 240 Pfennige	Southern Germany
1 Rijksdaalder	= 20 gulden	= 240 stuivers	Batavian_Kingdom
1 lür	= 20 sölden	= 240 denären	Helvetia
1 króna	= 20 krojcärni	= 240 helärni	Bohemia

Standard traite: 6 livres, etc. to the mark of pure silver (or 1 livre, etc. = 640 gr silver)
Tailles of currently minted coins:

• Main coins (to standard):
  • 1 livre, etc.: minted in gold, taille depends on the current gold price in silver
  • ½ livre, etc. = 10 sous, etc.: 10¹/2 pieces to the mark of 21 suc silver
  • ¼ livre, etc. = 5 sous, etc.: 21 pieces to the mark of 21 suc silver
• Minor coins (not to standard -- not obligatory for large payments):
  • 1 sous, etc.: 66 pieces to the mark of 12 suc silver
  • 3 deniers, etc.: 134 pieces to the mark of 6 suc silver
  • 1 denier, etc.: 40 pieces to the mark of standard bronze (22¾ suc copper, 1 suc tin, ¼ suc zinc)
  • ¼ denier, etc.: 80 pieces to the mark of standard bronze (22¾ suc copper, 1 suc tin, ¼ suc zinc)

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