Monetary and Fiscal Integration

  • Alec Cairncross
  • Herbert Giersch
  • Alexandre Lamfalussy
  • Giuseppe Petrilli
  • Pierre Uri


The objective of monetary union, on which so much debate has raged, did not feature in the Treaty of Rome. It only came to the forefront of inter-governmental discussion after a series of international monetary crises in the late 1960s. Changes in exchange rates, the threat that currency fluctuations were thought to pose for the Community’s common agricultural policy and a growing desire in some quarters for a monetary counter-weight to the American dollar were major factors which combined to stimulate interest in closer monetary integration.


Exchange Rate Monetary Policy European Community Fiscal Policy Member Country 
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Notes and References

  1. 2.
    see W. M. Corden, Monetary Integration, Essay No. 93 in International Finance (Princeton: Princeton University Press, 1972).Google Scholar
  2. 5.
    see Sir Alec Cairncross, Essays in Economic Management (London: Allen & Unwin, 1971).Google Scholar
  3. 7.
    C. C. von Weizsäcker, ‘Ein Vorschlag zur Währungsunion’, in Hubertus Müller-Groeling, Beiträge und Stellungnamen zu Problemen der Währungspolitik, Kieler Diskussionsbeiträge 10 (Kiel: Institut für Weltwirtschaft, 1971);Google Scholar
  4. Leon Lambert, ‘Une monnaie européenne tout de suit’, Le Monde, Paris, 19 December 1971;Google Scholar
  5. Norbert Walter, ‘Europäische Währungsintegration: Kartellösung versus Eurowährung’, Die Weltwirtschaft, Kiel, No. 1, 1972;Google Scholar
  6. Giovanni Magnifico and John Williamson, European Monetary Integration (London: Federal Trust for Education and Research, 1972);Google Scholar
  7. François Elsassr, ‘Pour une union monétaire européenne des 1973’, Chroniques d’Actualitiés, Paris, February 1972;Google Scholar
  8. Robert A. Mundell, ‘A Plan for a European Currency’, in Harry G. Johnson and Alexander Swoboda (eds.), The Economics of Common Currencies (London: Allen & Unwin, 1972);Google Scholar
  9. Bela Balassa, ‘Monetary Integration in the European Common Market’, in Swoboda (ed.), Europe and the Evolution of International Monetary System (Leyden: Sijthoff, 1973);Google Scholar
  10. Dieter Biehl, Fritz Franzmeyer and Hans-Eckart Scharrer, Gutachten zur Ubergangsphase der Wirtschafts- und Währungsunion (Bonn: Bildungswerk Europäische Politik, 1973).Google Scholar
  11. 11.
    Also see Richard A. Musgrave, ‘Approaches to a Fiscal Theory of Political Federation’, in National Bureau of Economic Research, Public Finance: Needs, Sources and Utilization (Princeton: Princeton University Press, 1961).Google Scholar

Copyright information

© Institut für Weltwirtschaft an der Universität Kiel 1974

Authors and Affiliations

  • Alec Cairncross
  • Herbert Giersch
  • Alexandre Lamfalussy
  • Giuseppe Petrilli
  • Pierre Uri

There are no affiliations available

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