Abstract
Against the backdrop of the new post-war international economic and monetary order (Bretton Woods, GATT, Marshall Plan, EPU/OEEC) and the political and monetary challenges facing Western Europe ahead of the Treaty of Rome (1957), this chapter explores the first calls for a monetary system within the European Community and the development of Pierre Werner’s monetary thinking and political action from 1950 onwards. Particular emphasis is placed on the Hague Summit (1969)—where the Six agreed to develop a plan by stages for EMU, leading to the creation of the Werner Committee (1970)—as well as the various plans for European monetary integration from the Commission (first and second Barre Memorandums) and the Member States: Belgium (Snoy Plan), Germany (Schiller Plan) and Luxembourg (first Werner Plan).
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