The first plan is the introduction of the single European currency was proposed in the 1970 Agreement at Bretton Woods, prevented the creation of the European Monetary System.
In 1979 came a standard unit for International Settlements – ECU (European Currency Unit) It was not a bill, and the unit to which all currencies were tied for International Settlements … Introduced this item European Monetary Cooperation Fund. Coming as long as no one is allowed: not over "post-war" time.
But before she staggered "postwar" system, and in 1987 proposed, in April 1989, became a widely discussed "Delors Plan": a preliminary draft of the Economic and Monetary Union. Jacques Delors was promoted from clerk to one of the leading bankers of France. From 1985 to 1995, he served as president of the European Commission. "Plan Delors"Has caused a major stir and drew not only a large part of bankers and politicians, but has become popular among millions of ordinary citizens. For the "Delors Plan" enabled the Europeans to tackle the long overdue task of historic proportions – the introduction of the single currency. And why not? EEC countries had approximately 40% of the world's gold reserves. Could do without the U.S..
The project is actively supported in the "corridors of power", and the media. Based on the "plan Delors"By December 1991, was developed Maastricht Treaty on European Union provides for the phased introduction of common money.
Initially, at the Madrid Summit in June 1989, adopted two main organizational proposals made by the Committee Delors: The first phase of the transition to economic and monetary union on July 1, 1990 for which an intergovernmental conference aimed at fundamental changes to the contracts, which are essential for the promotion to the next stages.
By December 1990, the Committee of Central Bank Governors and Currency Committee of the EU practically drafted the charter of the future European Central Bank.
The Maastricht Treaty on European Union has laid a solid legal foundation for future economic and monetary union and the single currency.
In July 1990, the Europeans have abolished all exchange restrictions on the movement of capital in the EU.
The second phase began in January 1994 with the creation of the European Monetary Institute in Frankfurt am Main in the central bank of the Member States.
In December 1995, European Council in Madrid confirmed the decision on the introduction of the single European currency on 1 January 1999, he refused to name "ECU", taking instead the name "euro". Euro was not in parallel supranational currency as the ECU, and one common to all members of the European Union currency, which finally replaced the mark and franc …
Integration? Matured dream Mr. Marshall? Yes … And the collapse of all that so lovingly organized Mr. Marshall.