Pierre Werner et l’Europe : pensée, action, enseignements – Pierre Werner and Europe: His Approach, Action and Legacy
Edited By Elena Danescu and Susana Muñoz
The centenary of the birth of Pierre Werner (1913–2013) offered a timely opportunity to reflect on the personality and achievements of this politician from Luxembourg who left his mark on the future of his country and on the European integration process. On 27 and 28 November 2013, some 30 renowned experts and researchers including historians, economists, legal experts and political scientists, together with major players in economic and monetary affairs, assembled in Luxembourg for a conference during which they analysed Pierre Werner’s European vision and offered an international perspective on the relevance of his approach in light of the challenges facing us in the 21
Partie III. Du Rapport Werner Au Rapport Delors : L’Union économique et Monétaire En Mrche, Part III. From the Werner Report to the Delors Report: Progress Towards Economic and Monetary Union
Partie iii Du raPPort werner au raPPort Delors : l’union éconoMique et Monétaire en Marche Part iii froM the werner rePort to the Delors rePort: Progress towarDs econoMic anD Monetary union 267 From the Werner Report to the Delors Report Piet cLEMENT Head of Information and Collaboration at the Bank for International Settlements1 Two decades separate the Werner Report (1970) from the Delors Report (1989). Both shared the same objective – to map out the road towards European monetary unification – but experienced very different results. The Werner Plan formed the basis for the European Commission’s proposal for a gradual implementation of an economic and monetary un- ion, which was formally adopted by the European Council at its meeting of 22 March 1971. However, the initial momentum was quickly lost as the international monetary system entered a period of turbulence in the early 1970s, and Western European economies began to diverge sharply in terms of productivity and inflation rates. Before long, the implementa- tion of the Commission’s plan was abandoned. The Delors Report, on the other hand, was eventually successful. It not only provided the basis for the political decision to create a European Monetary Union (1992 Maastricht Treaty), but also a blueprint for its actual implementation (creation of the European Central Bank in 1998 and introduction of the euro in 1999/2002). All the same, the Delors Report cannot be viewed in isolation: one might even say that without the Werner Report the Delors Report would have been unthinkable. In many ways,...
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