Abstract
This chapter provides an overview of European monetary policy and the British response to it between 1976 and 2007 with a particular focus on the two case studies of the present study: the Exchange Rate Mechanism (ERM), the centre piece of the European Monetary System (EMS), and Economic and Monetary Union (EMU).
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
For details on the crisis’ impact on the EC members’ economies, see Ludlow (1982: 7–12).
- 2.
Thatcher had moved Howe after the Madrid summit to be leader of the House of Commons.
- 3.
This was due to an interview in which he had made anti-German remarks. For the interview, see Lawson (1990).
- 4.
It had been unexpected among other things because the election had taken place in the middle of the longest recession since the 1930s and went against the trend in Europe, which in other countries saw government parties being voted out of office (Butler and Kavanagh 1992: 269).
References
Bache, I., & Nugent, N. (2007). Europe. In A. Seldon (Ed.), Blair’s Britain, 1997–2007 (pp. 529–550). Cambridge: Cambridge University Press.
Baker, D., Gamble, A., & Ludlam, S. (1994). The parliamentary siege of Maastricht 1993: Conservative divisions and British ratification. Parliamentary Affairs, 47(1), 37–60.
Baker, D., & Sherrington, P. (2004). Britain and Europe: Europe and/or America? Parliamentary Affairs, 57(2), 347–365.
Burch, M., & Holliday, I. (1996). British cabinet system. Hemel Hempstead: Prentice Hall Harvester Wheatsheaf.
Butler, D., & Kavanagh, D. (Eds.). (1992). The British general election of 1992. Basingstoke/London: St. Martin’s Press/Macmillan.
Cowley, P., & Stuart, M. (2012, October 30). Europe: The gift that keeps giving misery to Conservative whips. http://nottspolitics.org/2012/10/30/europe-the-gift-that-keeps-on-giving-misery-to-conservative-whips/. Accessed June 4, 2016.
De Jonquieres, G. (1978, December 4). Shaky path to monetary union. Financial Times.
Financial Times. (1978, November 25). Government not ready to decide whether it is in Britain’s best interest to join.
Geddes, A. (2013). Britain and the European Union. Basingstoke: Palgrave Macmillan.
George, S. (1998). An awkward partner: Britain in the European Community (3rd ed.). Oxford: Oxford University Press.
Gowland, D., & Turner, A. (2000). Reluctant Europeans: Britain and European integration 1945–1998. Harlow: Longman.
Gowland, D., Turner, A., & Wright, A. (2010). Britain and European integration since 1945: On the sidelines. London: Routledge.
Heath, A. F., Jowell, R. M., & Curtice, J. K. (2001). The rise of New Labour: Party policies and voter choices. Oxford: Oxford University Press.
HC Deb. (1978, December 6), Vol 959, cc1421–1424.
HC Deb. (1990, November 13), Vol 180, cc461–465.
HC Deb. (1997, October 27), Vol 299, cc583–588.
HC Deb. (1999, February 23), Vol 326, cc179–183.
HC Deb. (2003, June 9), Vol 406, cc407–415.
Hillenbrand, O. (2008). Die Wirtschafts- und Währungsunion. In W. Weidenfeld (Ed.), Die Europäische Union: Politisches System und Politikbereiche (pp. 402–433). Bonn: Bundeszentrale für Politische Bildung.
Jay, P. (1994). The economy 1990–94. In D. Kavanagh & A. Seldon (Eds.), The Major effect (pp. 169–205). London: Macmillan.
Jenkins, P. (1978, December 1). PM given a blank cheque. The Guardian.
Kavanagh, D. (2005). The Blair premiership. In A. Seldon & D. Kavanagh (Eds.), The Blair effect 2001–5 (pp. 3–19). Cambridge: Cambridge University Press.
Knipping, F. (2004). Rom, 25. März 1957: Die Einigung Europas. Munich: Deutscher Taschenbuch Verlag.
Lawson, D. (1990, July 14). Saying the unsayable about the Germans. The Spectator.
Ludlow, P. (1982). The making of the European Monetary System. London: Butterworth.
Major, J. (2000). The autobiography (2nd ed.). London: HarperCollins.
Rawnsley, A. (2001). Servants of the people: The inside story of New Labour (2nd ed.). London: Penguin.
Seldon A. (with Snowdon, P. & Collings, D.) (2008). Blair unbound (2nd ed.). London: Pocket Books.
Stephens, P. (1997). Politics and the pound: The Tories, the economy and Europe (2nd ed.). London: Papermac.
Thatcher, M. (2011). The Downing Street years. London: Harper Press.
The Guardian. (1978, November 29). Half-way to a better Europe.
Thompson, H. (1996). The British Conservative government and the European Exchange Rate Mechanism, 1979–1994. London: Pinter.
Wall, S. (2008). A stranger in Europe: Britain and the EU from Thatcher to Blair. Oxford: Oxford University Press.
Wallace, W. (1994). Foreign policy. In D. Kavanagh & A. Seldon (Eds.), The Major effect (pp. 283–300). London: Macmillan.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2019 Springer International Publishing AG, part of Springer Nature
About this chapter
Cite this chapter
Bujard, B. (2019). The United Kingdom and European Monetary Policy 1976–2007: Exchange Rate Mechanism and Economic and Monetary Union. In: The British Prime Minister in the Core Executive. Contributions to Political Science. Springer, Cham. https://doi.org/10.1007/978-3-319-89953-4_3
Download citation
DOI: https://doi.org/10.1007/978-3-319-89953-4_3
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-89952-7
Online ISBN: 978-3-319-89953-4
eBook Packages: Political Science and International StudiesPolitical Science and International Studies (R0)