This paper sheds light on the current euro crisis by looking at the debates preceding the conception of the euro. How can the early days of EU monetary cooperation help us understand today’s predicament? And what lessons can we draw from them for the euro?
A Europe Made of Money is a new history of the making of the European Monetary System (EMS). This account stresses that the EMS is much more than a success story of financial cooperation. The technical suggestions made by its architects reveal how state elites conceptualized the larger project of integration. And their monetary policy became a marker for the conception of European identity.