Introduction

Abstract

The main purpose of this book is to trace the development of European monetary cooperation between 1970 and 1979, and explain why Britain gradually opted out of that process. The greater part of the book is dedicated to detailed case studies of British policy towards European monetary cooperation during the period. In addition, a brief but structured comparison with the French case is made for the purpose of guiding these case studies and confirming their results. The analysis shows that two countries in similar international positions and economic situations can reach opposing conclusions due to the differences in their domestic political institutions. However, before jumping to any conclusions, we need first to see how the combination of a case-study approach and a comparative method helps us explain why Britain opted out of European monetary cooperation and thereby parted company with France and the rest of the EEC on the issue.