What Is a Confederate Dollar?

The European Payments Union is a joint organization for multilateral settlements among member states of the European Economic Cooperation Organization. Established on July 1, 1950. Member countries include Austria, Belgium, Denmark, France, Federal Germany, Greece, Iceland, Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Switzerland, Sweden, United Kingdom and Turkey, and the United States and Canada participate as observers. The European Payments Agreement was signed between the countries of the European Payments Union, stipulating that the International Settlement Bank should be used as the central institution for multilateral settlements. Bilateral accounting should be adopted for the mutual claims and debts of member countries. . ^[1]