Lempira (Lenca ruler) ambush. In 1931, Honduras renamed its currency in honor of Lempira. In 1943, Honduras renamed the Gracias Department as the Lempira Department. In 1957 the Honduran writer Ramón Amaya Amador wrote a novel featuring Lempira, entitled "El señor de la sierra" (The Lord of the Mountain). Lempira (Lenca ruler) Lempira was a war chieftain of the Lencas of western Honduras in Central America during the 1530s, when he led resistance to Francisco de Montejo's attempts to conquer and incorporate the region into the province of Honduras. Mentioned as "Lempira" in documents written during the Spanish conquest, he is regarded by
History of the euro and devaluations set back aspirations for European monetary union. However, in March 1979 the European Monetary System (EMS) was created, fixing exchange rates onto the European Currency Unit (ECU), an accounting currency, to stabilise exchange rates and counter inflation. It also created the European Monetary Cooperation Fund (EMCF). In February 1986 the Single European Act formalised political co-operation within the Community including competency in monetary policy. European Council summit in Hannover on 14 June 1988 began to outline monetary co-operation. France, Italy and European Commission backed a fully monetary union with a central bank, which British Prime Minister Margaret Thatcher