green pound: meaning, definition, pronunciation and examples
C1/C2Formal, Historical, Economic/Agricultural, EU Politics
Quick answer
What does “green pound” mean?
A specific exchange rate, often more favourable, used for calculating payments to British farmers under the European Union's Common Agricultural Policy, to account for differences in currency values and agricultural prices.
Audio
Pronunciation
Definition
Meaning and Definition
A specific exchange rate, often more favourable, used for calculating payments to British farmers under the European Union's Common Agricultural Policy, to account for differences in currency values and agricultural prices.
A historical economic mechanism, defunct since 1993, designed to protect the incomes of UK farmers from fluctuations in the pound's exchange rate within the EU's agricultural subsidy system. In broader contexts, it can be used to refer to any politically or environmentally adjusted currency valuation.
Dialectal Variation
British vs American Usage
Differences
The term is almost exclusively British as it related specifically to UK membership in the EU's Common Agricultural Policy. American English speakers would likely be unfamiliar with the term unless discussing historical EU economics.
Connotations
For British users, it connotes a specific era of EU membership, farming subsidies, and political debates about the UK's financial contribution to the EU. It has no emotional resonance in American English.
Frequency
Extremely low frequency in current usage. Found primarily in historical, economic, or political texts discussing the UK in the EU pre-1993.
Grammar
How to Use “green pound” in a Sentence
The green pound was [used/valued/abolished].Payments were calculated using the green pound.The UK benefited from a favourable green pound rate.Vocabulary
Collocations
Examples
Examples of “green pound” in a Sentence
verb
British English
- The subsidies were **green-pounded** to shield farmers from currency swings. (rare, technical)
American English
- (not used)
adverb
British English
- (not used)
American English
- (not used)
adjective
British English
- The **green-pound** mechanism was a source of constant debate.
American English
- (not used)
Usage
Meaning in Context
Business
Used in historical financial analysis of agribusiness or EU trade.
Academic
Used in economic history, political science, and European studies papers discussing the evolution of the CAP.
Everyday
Virtually never used in everyday conversation. Might appear in historical documentaries or detailed news retrospectives.
Technical
Precise term in documents from the UK's Ministry of Agriculture, Fisheries and Food (MAFF) and the European Commission from the 1970s-1990s.
Vocabulary
Synonyms of “green pound”
Strong
Neutral
Weak
Vocabulary
Antonyms of “green pound”
Watch out
Common Mistakes When Using “green pound”
- Using it to refer to an environmentally friendly currency or investment fund (that is 'green finance' or 'ethical investment').
- Assuming it is still in operation.
- Confusing it with the 'Irish punt' (which was a different currency).
FAQ
Frequently Asked Questions
No, it was abolished in 1993 with the reform of the Common Agricultural Policy and the move towards a single market, which required common prices and the removal of such monetary compensatory amounts.
No, in this context 'green' refers to agriculture (as in 'green fields'), not environmentalism. It was the 'farmers' pound'.
It was controversial because when the pound sterling was weak, the green pound's higher rate meant UK farmers received more in subsidy equivalents than farmers in other EU countries, leading to accusations of unfair advantage and budgetary distortion.
No, it was never a physical banknote or coin. It was a notional, administrative exchange rate used solely for accounting purposes within the EU's agricultural payment system.
A specific exchange rate, often more favourable, used for calculating payments to British farmers under the European Union's Common Agricultural Policy, to account for differences in currency values and agricultural prices.
Green pound is usually formal, historical, economic/agricultural, eu politics in register.
Green pound: in British English it is pronounced /ˌɡriːn ˈpaʊnd/, and in American English it is pronounced /ˌɡrin ˈpaʊnd/. Tap the audio buttons above to hear it.
Phrases
Idioms & Phrases
- “(none specific)”
Learning
Memory Aids
Mnemonic
Think of the 'green' fields of British farms receiving special 'pound' payments from Brussels, with a different exchange rate than the one in the city (the financial 'sterling pound').
Conceptual Metaphor
SPECIAL TOOL FOR A SPECIAL FIELD: Currency as a tool, modified ('coloured green') for a specific sector (agriculture).
Practice
Quiz
What was the primary purpose of the green pound?