Belgium-Luxembourg Economic Union

(redirected from UBEL)

Belgium-Luxembourg Economic Union

Also called BLEU or UBEL. A treaty that fixed the values of the Belgian franc and the Luxembourg franc at a 1:1 parity. This established a single market between Belgium and Luxembourg. Signed in 1921, it was superseded by the Benelux Customs Union in 1948.
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The original German provides: "Rechtswidrig ist die Tat, wenn die Anwendung der Gewalt oder die Androhung des Ubels zu dem angestrebten Zweck als verwerflich anzusehen ist.