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The Making of the European Monetary System (1978)

In: The Road to European Monetary Union

Author

Listed:
  • André Szász

    (Dutch Central Bank)

Abstract

In the second half of the 1970s little remained of the initiative taken by Willy Brandt at the turn of the decade to repair French-German relations and to get European integration moving again: — Economic and Monetary Union, although originally intended to have been established within a decade and should by this time have been nearing its completion, was rarely mentioned again. — The European Reserve Fund, into which (part of) the participating central banks’ international reserves were to be pooled, had actually taken the form of a European Monetary Cooperation Fund that was in fact merely a book-keeping agency. — The snake, the only proposal in the Werner Report that was realised, had shrunk into a mini-snake that France had for the second time, and now definitively, felt compelled to leave in March 1976.

Suggested Citation

  • André Szász, 1999. "The Making of the European Monetary System (1978)," Palgrave Macmillan Books, in: The Road to European Monetary Union, chapter 7, pages 51-65, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-59947-5_7
    DOI: 10.1057/9780230599475_7
    as

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