By Emmanuel Mourlon-Druol
A Europe made up of Money is a brand new heritage of the making of the ecu financial approach (EMS), in response to wide archive study. Emmanuel Mourlon-Druol highlights long term approaches within the financial and fiscal negotiations within the decade prime as much as the founding of the EMS in 1979. the 1st is a transnational studying technique regarding a robust, networked eu financial elite that formed a behavior of cooperation between technocrats. the second one stresses the significance of the eu Council, which held typical conferences among heads of presidency starting in 1974, giving EEC legitimacy to financial projects that had formerly concerned semisecret and bilateral negotiations. The interplay of those positive factors replaced the EMS from a pretty trivial piece of administrative company to a greatly vital political agreement.
The inception of the EMS was once greeted as one of many landmark achievements of local cooperation, a huge step forward within the production of a unified Europe. but Mourlon-Druol's account stresses that the EMS is way greater than a hit tale of monetary cooperation. The technical feedback made via its architects display how nation elites conceptualized the bigger undertaking of integration. And their financial coverage grew to become a marker for the notion of ecu identification. the disclosing of the EMS, Mourlon-Druol concludes, represented the convergence of fabric pursuits and symbolic, identity-based concerns.
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Additional resources for A Europe Made of Money: the emergence of the European Monetary System (Cornell Studies in Money)
A Europe Made of Money: the emergence of the European Monetary System (Cornell Studies in Money) by Emmanuel Mourlon-Druol