Three European Banks Organize Ecu Payments System For East
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Three European banks are trying to make Ecu the trade currency for Eastern European countries whose trade has been in disarray since the disintegration of the Comecon bloc. Istituto Bancario San Paolo di Torino, Credit Lyonnais and Deutsche Bank have clubbed together to organize a privately run Ecu payments system for the former Communist bloc countries.
According to the project's chief architect, Dominique Rambure, who attended a meeting in Moscow last week, the major proposed participants
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