Comment: Aaargh!
utc.html
At least according to Microsoft :-) Before 1970, Greenwich Mean Time was the correct term for time with no time zone offset. In 1970, the International Telecommunication Union (ITU), comprised of a group of international technical experts, devised the coordinated universal time (UTC) system. The ITU wanted a single abbreviation for Coordinated Universal Time in order to minimize confusion caused by language barriers. Because members of the ITU could not come to a unanimous agreement on either the English acronym (CUT) or the French acronym (TUC), the acronym UTC became the agreed-upon compromise.