Belgium–Luxembourg Economic Union
The Belgium–Luxembourg Economic Union (Dutch: Belgisch-Luxemburgse Economische Unie, French: Union économique belgo-luxembourgeoise, Luxembourgish: Belsch-Lëtzebuerger Wirtschaftsunion), abbreviated to BLEU or UEBL, is an economic and monetary union between Belgium and Luxembourg, two countries in the Benelux economic union.
BLEU was created by a treaty, signed on 25 July 1921, despite a referendum against such a proposal, between Belgium and Luxembourg, and came into effect upon ratification by the Luxembourgian Chamber of Deputies on 22 December 1922.[1][2] The original treaty lasted for fifty years, expiring in 1972; this was extended for ten years in 1982 and again in 1992. On 18 December 2002, the two countries and the three regions of Belgium signed a new convention.
Under the terms of the treaty, the economic frontier was lifted and the Belgian franc and Luxembourgian franc were set at a fixed parity (though revised in 1935 and 1944). International trade statistics were available for BLEU only as a combined entity until 1999, when European Community rules required split information.
It has been seen as the forerunner of Benelux, which was established by the London Customs Convention and also includes the Netherlands.
While many aims of the BLEU have been subsumed by the European Union, it still has some relevance in being able to decide more precise measures within the more general boundaries of European level decisions.
See also
Footnotes
References
- Kreins, Jean-Marie (2003). Histoire du Luxembourg (in French) (3rd edition ed.). Paris: Presses Universitaires de France. ISBN 978-2-13-053852-3.