"European Monetary Union: A factor of foreign policy between 1960-1971?"

Dupont, Nicolas. (1997) "European Monetary Union: A factor of foreign policy between 1960-1971?". In: UNSPECIFIED, Seattle, WA. (Unpublished)

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Abstract

The main purpose of this paper is to study the connection between monetary and foreign policies in the EEC between 1958 and 1971. Is foreign policy an accurate and appropriate word to qualify the conduct of external affairs by the EC during the sixties? Obviously not, because it implies a real common management in the field of international relationships and at the same time there was none. But that goes as well for monetary and economic policy, though the very principles of a common monetary policy were endorsed by the member states and even applicant states. It is indeed not easy to speak of economic and monetary policies during the 1960s whereas the process of custom integration is a priority over any common integration. Yet we shouldn't lay the emphasis on that point; as a matter of fact, the common management of the monetary resources were not far from being reached, notably thanks to the creation of the European Monetary Board and the mid-term economic policy board. In regard to economic and monetary policies, foreign policy management seems more erratic and far more in embryo to the extent that it seems more fruitful to consider it as a part of custom and economic integration. On the one hand, the study of custom integration and foreign policy is for long being undertaken, notably concerning the enlargement of the EC to the UK. On the other hand, the study of relationships between monetary and foreign policies remains a vast field to explore.

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