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<strong>Certification</strong> – The act of attesting that something is true or meets a certain standard. 1) Within the FFEL Program, the school certifies each borrower' s student loan, attesting to the fact that required eligibility criteria have been met, such as need. 2) Within the state student assistance programs administered by the MDHE, the school certifies each student' s eligibility and at the same time requests funds.
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trade threat (Fl)<br />A trade restriction designed to change non-trade policies of a government, e.g. concerning human rights or the cleanliness of the environment. A BOYCOTT is the most common form of threat.<br /><em>See also:</em> economic sanctions
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European Monetary Union (F3)<br />The integration of the monetary policies and currencies of member states under a new EUROPEAN CENTRAL BANK using a single currency. This union was envisaged by the WERNER REPORT and designed by the DEWRS PLAN which set out three stages towards integration. The first stage started in 1990 with the abolition of restrictions on capital movements in the EEC; the second stage amended the Treaty of Rome under the Maastricht Treaty 1992 to create the European Monetary Institute 1994 to provide for central bank co-operation and monetary policy co-ordination (the Institute was dissolved after the creation of the European Central Bank 1998) and there was an irrevocable fixing of exchange rates of the participating currencies by 1 January 1999; the third stage from 1999 led to the abolition of national currencies of 12 countries with the euro in circulation from 1 January 2002.
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