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A Europe Made of MoneyThe Emergence of the European Monetary System$
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Emmanuel Mourlon-Druol

Print publication date: 2012

Print ISBN-13: 9780801450839

Published to Cornell Scholarship Online: August 2016

DOI: 10.7591/cornell/9780801450839.001.0001

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The Emergence of a European Bloc

The Emergence of a European Bloc

Chapter:
(p.261) Conclusions The Emergence of a European Bloc
Source:
A Europe Made of Money
Author(s):

Emmanuel Mourlon-Druol

Publisher:
Cornell University Press
DOI:10.7591/cornell/9780801450839.003.0010

This book has documented the prehistory of European monetary cooperation and the negotiations that took place in order to establish the European Monetary System (EMS). It has highlighted two important features: the transnational learning process amid a transnationally connected monetary elite and the impact of the emergence of the European Council in the European Economic Community's (EEC) institutional setup. These features constitute the intellectual and technical roots, as well as the political and institutional origins, of the monetary scheme that entered into force in March 1979. The book concludes by relating its findings to wider historiographical issues and situating them within the perspective of the ways in which European integration was conceptualized by political scientists. It also examines the five main implications of the EMS creation and offers an alternative explanation for its adoption, one that is different from the existing historical literature and the literature on political science.

Keywords:   negotiations, European Monetary System, transnational learning, monetary elite, European Council, European Economic Community, European integration, European monetary cooperation, Europe

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