Abstract
The launch of the euro on 1 January 1999, with wide European participation, marked the culmination of over three decades of French high- level diplomatic effort, from Raymond Barre’s French blueprint for a European Economic and Monetary Union (EMU), incorporated into the 1970 Werner Report, through Giscard d’Estaing’s agreement with Schmidt in 1979 to establish the European Exchange Rate Mechanism, Mitterrand’s 1991 deal with Kohl at Maastricht and Chirac’s decision to accept the Stability and Growth Pact in 1996. The ambition to achieve EMU survived a succession of economic and political shocks and, from a diverse country with a tradition of political unruliness,1 demanded extraordinary consistency of purpose.
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