Abstract
In March 1979, European monetary cooperation was given new impetus by the establishment of the EMS, which was largely the result of a West German initiative. Having been at first indecisive, the British government now chose not to participate in the ERM, the central institution of the EMS. France, by contrast, opted for full membership, despite misgivings as to the details of the scheme. In this chapter, we will conduct a detailed study of British policy towards European monetary cooperation, from March 1976 until the beginning of the negotiations on the EMS, comparing it with the French case. British and French policy on the establishment of the EMS will be closely looked at in the next chapter. By building on these case studies, we will be able to explain why these two neighbouring countries parted ways on European monetary cooperation.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
