The British Government's proposal to develop the ECU gradually into a "hard" European currency has begun to be viewed in a more positive light. What principles are at the heart of this proposal? Does a "hard" ECU have advantages over the existing ECU? What are its chances as a parallel currency?

The Lomé Convention with its 63 signatory states in Africa, the Caribbean and the Pacific (ACP) represents the centre-piece of the EC's development policy. The current agreement, Lomé II, expires on February 28, 1985, and negotiations on Lomé III already began in Luxembourg on October 6,...