With its international supervisory and regulatory implications, the failure of Bankhaus Herstatt is one of the landmarks of post-war financial history. This article offers the first comprehensive historical account of the Herstatt crisis, and contributes to the wider discussions on international supervisory and regulatory reform since the mid-1970s.
The article argues that many of the issues that are causing trouble in the eurozone today had long been debated, but not solved, prior to the beginning of the so-called euro crisis.
This article deals with a significant institutional step in the history of European integration: the decision to hold EEC heads of state and government meetings on a regular basis.
Regular meetings of heads of state and government seem, in 2012, a common feature of international affairs. About forty years ago, however, such meetings did not really exist: ad hoc summits were the rule. Comparing the emergence of the European Council in 1974 and the G7 in 1975, this article explains why and how summitry has become routine in international politics.