German trade surpluses are making once again the headlines. The European Commission decided yesterday to launch an investigation into Berlin’s “excessive” trade surplus. This surplus is so large, the Commission argues, that it saps the strength of the Eurozone economic balance (or, put differently, nurtures its imbalances). But is this concern really new?
Thomas Mayer s’intéresse dans ce livre aux origines et à l’évolution récente de la monnaie unique et propose une série de mesures pour restaurer la confiance dans l’euro.
This article sets out the state of the field, outlines some of the problems/methodological challenges to historical research on the 1970s and finally sketches some potential research directions.
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.
The EMS, created in 1979, is part of the prehistory of the euro: it was a first concrete attempt at organising the European Union’s – that was still then the European Economic Community (EEC) – currency relations. And the discussions that took place then bear a striking resemblance to our current predicament.