Europe Made of Money

Emmanuel Mourlon-Druol is Research Associate in the Department of Economic and Social History, University of Glasgow, and Associate in the Transatlantic Programme of the IDEAS Centre, London School of Economics.

[A Europe Made of Money]is recommended for readers with a sound knowledge of 1970s European political,economic and monetary history and will be rewarding for economic historians, politicalscientists and political economists interested in the political and technocratic processesof European monetary co-operation in the 1970s, since these processes are at the heartof Mourlon-Druol's well-researched analysis.- Anne-Caroline Huser (Journal of Common Market Studies) Adds pieces to what is likely to be an important historiographical puzzle for some years to come.- Andrew Moravcsik (Foreign Affairs) At a time when the problems in the euro zone are frequently in the news, it is wise to consider the nature and origins of its immediate predecessor. Emmanuel Mourlon-Druol, of the University of Glasgow and the London School of Economics, has written a thorough description and analysis of the political and economic developments that led to the establishment, in 1979, of the European Monetary System [EMS].- Jerry Mushin (EH.NET) Highly informative, thoughtful and based on an impressive range of sources...Above all his thesis about the role of the European Council and the predominantly political meaning of the European Monetary System is well substantiated. The debate that has been going on for a few years about the relationship between civil society's transnational networks and political decisions should continue for the coming years.- Guido Thiemeyer (Francia) Mourlon-Druol describes the process leading to the birth of the European Monetary System (EMS) in 1979.... This work makes extensive use of a number of archives across Europe and will be valuable for anyone interested in gaining a deeper understanding of the emergence of the EMS.(Choice) The book is an excellent contribution to European economic history. It illustrates the critical role of political elites and European institutions, particularly the EU Council, in shaping the multi-level governance framework of EMU. It is crucial reading for those wanting to understand the problems afflicting the Eurozone today.- Aidan Regan (LSE Review of Books) The book is well researched and clearly written. It relies on an impressive amount of archival material. The author does an excellent job in explaining with Cartesian clarity, who did what, when, how and most importantly why.- Lucia Quaglia (Journal of European Integration History) This book, based on extensive archival research, delves into the making of the European Monetary System, focusing on the period from May 1974 to March 1979. This book is well written and well structured... On the whole, the strength of this book lies in the author's archival research.... it contributes to our understanding of the process of European monetary integration in the second half of the 1970s.- Ivo Maes (Fianacial History Review) While deeply complex and technical subjects like monetary integration do not usually make for light reading, the strength of Mourlon-Druol's book lies precisely in the way in which it manages to regularly transcend such technicalities by highlighting the bigger implications of the EMS for how we understand the larger processes of European integration today. Thus, A Europe Made of Money is not only an authoritative and well-researched history of the creation of the European Monetary System, but it also forces us to reconsider how we approach the study of European integration more generally.- Mathias Haeussler (Reviews in History)

• Introduction: Multilevel Governance, History, and Monetary Cooperation1. European Monetary Cooperation, 1945–1974: Background and Debates2. Shifting Away from the Werner Approach, May 1974–May 19753. EMU off the Agenda? June 1975–June 19764. Economic Rapprochement, Monetary Standstill, July 1976–June 19775. Conflicting Options, July 1977–March 19786. A Semisecret Negotiation, Late March–Mid-July 19787. Chasing the Ghosts of Failed Negotiations, Mid-July–Late September 19788. A False Start, October 1978–March 1979Conclusions: The Emergence of a European BlocAcknowledgmentsA Note on Sources Cited in the NotesNotesSourcesIndex