Belgium-Luxembourg Economic Union
Encyclopedia
The Belgium–Luxembourg Economic Union , 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 propsal, between Belgium and Luxembourg
, and came into effect upon ratification by the Luxembourgian Chamber of Deputies
on 22 December 1922. 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.
Economic and monetary union
An economic and monetary union is a type of trade bloc which is composed of an economic union with a monetary union. It is to be distinguished from a mere monetary union , which does not involve a common market. This is the fifth stage of economic integration...
between Belgium and Luxembourg
Luxembourg
Luxembourg , officially the Grand Duchy of Luxembourg , is a landlocked country in western Europe, bordered by Belgium, France, and Germany. It has two principal regions: the Oesling in the North as part of the Ardennes massif, and the Gutland in the south...
, two countries in the Benelux
Benelux
The Benelux is an economic union in Western Europe comprising three neighbouring countries, Belgium, the Netherlands, and Luxembourg. These countries are located in northwestern Europe between France and Germany...
economic union.
BLEU was created by a treaty, signed on 25 July 1921, despite a referendum against such a propsal, between Belgium and Luxembourg
Luxembourg
Luxembourg , officially the Grand Duchy of Luxembourg , is a landlocked country in western Europe, bordered by Belgium, France, and Germany. It has two principal regions: the Oesling in the North as part of the Ardennes massif, and the Gutland in the south...
, and came into effect upon ratification by the Luxembourgian Chamber of Deputies
Chamber of Deputies of Luxembourg
The Chamber of Deputies , abbreviated to the Chamber, is the unicameral national legislature of Luxembourg. 'Krautmaart' is sometimes used as a metonym for the Chamber, after the square on which the Hôtel de la Chambre is located....
on 22 December 1922. 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
Belgian franc
The franc was the currency of Belgium until 2002 when the euro was introduced into circulation. It was subdivided into centimes , 100 centiem or Centime .-History:...
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
Benelux
The Benelux is an economic union in Western Europe comprising three neighbouring countries, Belgium, the Netherlands, and Luxembourg. These countries are located in northwestern Europe between France and Germany...
, which was established by the London Customs Convention
London Customs Convention
Officially titled the Netherlands–Belgium–Luxembourg Customs Convention, the London Customs Convention was the treaty that established the Benelux Customs Union on 1944-09-05...
and also includes the Netherlands.
While many aims of the BLEU have been subsumed by the European Union
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
, it still has some relevance in being able to decide more precise measures within the more general boundaries of European level decisions.