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Monetary Integration in the 1960s
[Európska menová integrácia v šesťdesiatych rokoch 20. storočia]

Author

Listed:
  • Miriam Jankalová
  • Radoslav Jankal
Abstract
Initiatives dealing with the creation of the European Monetary System and the zone of monetary stability in Europe emerged in the 18th century, despite the fact that greater manifestations of these considerations and efforts only started in the 1960s and early 1970s. The proof is the Marjolin Memorandum of 24 October 1962 and the Barre Plan, presented in The Hague in February 1969. In October 1970, the Commission's initiative was followed by preparation of a plan for the progressive establishment of the Economic and Monetary Union, known as the Werner Report. Fundamentally different political views and approaches in the field of economics and integration, crisis phenomena in the Member States of the European Economic Community prevented the coordination of economic and monetary policy and the expected introduction of a common system of exchange rates. Other factors that contributed to that state were the currency crisis (1971-1973) and the oil crisis (1973-1974), as well as conflicts of interest between the French and German sides.

Suggested Citation

  • Miriam Jankalová & Radoslav Jankal, 2017. "Monetary Integration in the 1960s [Európska menová integrácia v šesťdesiatych rokoch 20. storočia]," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2017(2), pages 85-97.
    • Handle: RePEc:prg:jnlaop:v:2017:y:2017:i:2:id:576:p:85-97
    DOI: 10.18267/j.aop.576
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    References listed on IDEAS

    as
    1. Issing,Otmar, 2008. "The Birth of the Euro," Cambridge Books, Cambridge University Press, number 9780521731867, September.
    2. Issing,Otmar, 2008. "The Birth of the Euro," Cambridge Books, Cambridge University Press, number 9780521516730, September.
    3. ,, 2009. "Economics of Monetary Union," OUP Catalogue, Oxford University Press, edition 8, number 9780199563234.
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    More about this item

    Keywords

    integration; currency; policy; market; union; community;
    All these keywords.

    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General

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