By Emmanuel Mourlon-Druol
A Europe made up of Money is a brand new historical past of the making of the eu financial process (EMS), in accordance with broad archive study. Emmanuel Mourlon-Druol highlights long term techniques within the financial and financial negotiations within the decade prime as much as the founding of the EMS in 1979. the 1st is a transnational studying procedure related to a strong, networked ecu financial elite that formed a behavior of cooperation between technocrats. the second one stresses the significance of the ecu Council, which held normal conferences among heads of presidency starting in 1974, giving EEC legitimacy to financial projects that had formerly concerned semisecret and bilateral negotiations. The interplay of those positive aspects replaced the EMS from a pretty trivial piece of administrative enterprise to a drastically very important political agreement.
The inception of the EMS used to be greeted as one of many landmark achievements of neighborhood cooperation, a massive breakthrough within the production of a unified Europe. but Mourlon-Druol's account stresses that the EMS is way greater than successful tale of monetary cooperation. The technical feedback made through its architects exhibit how kingdom elites conceptualized the bigger undertaking of integration. And their financial coverage grew to become a marker for the belief of eu id. the disclosing of the EMS, Mourlon-Druol concludes, represented the convergence of fabric pursuits and symbolic, identity-based concerns.
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A Europe Made of Money: the emergence of the European Monetary System (Cornell Studies in Money) by Emmanuel Mourlon-Druol