Sterling, International Monetary Reform and Britain's Applications to Join the European Economic Community in the 1960s

2002 ◽  
Vol 11 (3) ◽  
pp. 345-369 ◽  
Author(s):  
Catherine Schenk
Keyword(s):  
Ad Hoc ◽  
European Economic Community ◽  
International Monetary System ◽  
International Community ◽  
Economic Community ◽  
Monetary Reform ◽  
European Economic ◽  
Monetary System ◽  
Gradual Process ◽  
The 1960S

Throughout the 1960s the international monetary system crumbled in a gradual process which was punctuated by a series of crises. The international community proposed, debated and ultimately procrastinated over major reforms, and opted instead for ad hoc ‘plumbing’ solutions such as the Gold Pool and bilateral currency swaps. While this turmoil unfolded, Britain made repeated attempts to join the European Economic Community. This article shows that while monetary issues were not as often publicly discussed, they were a crucial factor in the negotiations for British membership. It also aims to bring together the discussions on the reform of the international monetary system in the 1960s with those on the enlargement of the EC.

6. The ‘Other’ European Communities and the Origins of the European Economic Community (the Early 1950s to the 1960s)

2020 ◽  
pp. 107-122
Author(s):  
Simon Bulmer ◽  
Owen Parker ◽  
Ian Bache ◽  
Stephen George ◽  
Charlotte Burns
Keyword(s):  
European Economic Community ◽  
Political Community ◽  
The Other ◽  
Economic Community ◽  
European Economic ◽  
The Road ◽  
Foreign Policies ◽  
Ultimate Failure ◽  
The 1960S ◽  
Energy Community

This chapter focuses on the ‘other’ European communities and the origins of the European Economic Community (EEC). Negotiations over a plan for a European Defence Community (EDC) ran parallel to those over the European Coal and Steel Community (ECSC). Connected with the EDC was a proposal to create a European Political Community (EPC) to provide democratic European structures for co-ordinating foreign policies. This chapter first considers the Pleven Plan for an EDC, before discussing the development of the EDC/EPC plan and the ultimate failure to reach agreement in 1954. It also analyses the Messina negotiations and the road to the Treaties of Rome. Finally, it looks at the experience of the other organization that was created at the same time as the EEC, the European Atomic Energy Community (Euratom), which, like the ECSC, was institutionally merged with the EEC in 1967.

9. The Eastern and Western Blocs in the 1960s

2013 ◽  
Author(s):  
John W. Young ◽  
John Kent
Keyword(s):  
Eastern Europe ◽  
European Economic Community ◽  
Cuban Missile Crisis ◽  
Economic Community ◽  
European Economic ◽  
Nikita Khrushchev ◽  
The 1960S ◽  
Test Ban ◽  
Test Ban Treaty

This chapter provides an overview of the Eastern and Western blocs in the 1960s. It first considers US–Soviet relations from the Cuban missile crisis to détente spanning the period 1963–1971, focusing on the talks between Nikita Khrushchev and John F. Kennedy regarding the Test Ban Treaty, before discussing the superpowers’ relations with China. It then explores unity and division in Eastern Europe and in the Western bloc, taking into account the European Economic Community, NATO, and the Western economies in the 1960s. It also analyses the rise of European détente, covering topics such as progress on pan-European contacts and the emergence of Ostpolitik.

Membership Eligibility in a Europe of Parliamentary Democracies, 1962–1969

2021 ◽  
pp. 137-158
Author(s):  
Daniel C. Thomas
Keyword(s):  
Trade Union ◽  
European Economic Community ◽  
Military Coup ◽  
Economic Community ◽  
Association Agreement ◽  
European Economic ◽  
Parliamentary Democracies ◽  
Turkish Economy ◽  
Union Activists ◽  
The 1960S

This chapter uses extensive archival evidence to demonstrate how the membership norm adopted by the community in early 1962—that only parliamentary democracies are eligible for membership—shaped European Economic Community decisions on Spain, Turkey, and Greece in the 1960s. Despite its prior openness to Madrid, the EEC rejected Spain’s quest for association in 1962 after trade union activists and members of the European parliament highlighted the gap between the new norm and the repressiveness of the Spanish regime. Despite deep concerns about the under-developed state of the Turkish economy, the EEC approved an association agreement in 1963 that recognized Turkey’s membership eligibility after the country re-established its democratic institutions. And despite the advanced state of the association agreement with Greece, the EEC froze further developments following that country’s military coup in 1967 and linked further progress to a restoration of democracy in Athens.

7. The First Years of the European Economic Community (the 1960s and into the 1970s)

2020 ◽  
pp. 123-136
Author(s):  
Simon Bulmer ◽  
Owen Parker ◽  
Ian Bache ◽  
Stephen George ◽  
Charlotte Burns
Keyword(s):  
Security Policy ◽  
European Economic Community ◽  
Rapid Progress ◽  
Economic Community ◽  
European Economic ◽  
Foreign And Security Policy ◽  
The Hague ◽  
The 1960S ◽  
Council Of Ministers ◽  
The Impact

This chapter focuses on the first years of the European Economic Community (EEC). It describes the early 1960s as a period of apparent success for the supranational elements within the EEC, noting the rapid progress made towards the creation of both a common market and a common agricultural policy. The chapter also examines the crisis sparked by France’s decision to boycott meetings of the Council of Ministers in response to proposals for a more supranational method of funding the EEC budget; the impact of this crisis on the process of European integration; the so-called Luxembourg Compromise; and the Hague Summit. It concludes by discussing the EEC’s expansion of its membership at the start of the 1970s, as well as its first moves towards an Economic and Monetary Union and a Common Foreign and Security Policy.

scholarly journals A Brief History of the International Monetary System since Bretton Woods

2017 ◽  
Author(s):  
José Antonio Ocampo
Keyword(s):  
Global Economy ◽  
Ad Hoc ◽  
International Monetary System ◽  
Negative Effects ◽  
Bretton Woods ◽  
Monetary System ◽  
The Us ◽  
Us Government ◽  
History Of ◽  
The 1960S

The 1944 Bretton Woods Conference, which created the International Monetary Fund and the International Bank for Reconstruction and Development, was a major landmark in international cooperation. However, the Bretton Woods system came under increasing pressure in the 1960s due to the lack of a reliable adjustment mechanism to manage payment imbalances as well as the persistent asymmetries in the balance-of-payments pressures faced by surplus and deficit countries. In 1971 the system effectively collapsed when the US government suspended convertibility of dollars into gold for other central banks—a decision that would prove to be permanent. The system that evolved to replace it can be viewed as a ‘non-system’ with diverse ad hoc arrangements. Viewed overall this non-system has proved to be fairly resilient, but some of its major gaps continue to have negative effects on the global economy.

7. The First Years of the European Economic Community (the 1960s and into the 1970s)

2014 ◽  
pp. 119-132
Author(s):  
Ian Bache ◽  
Simon Bulmer ◽  
Stephen George ◽  
Owen Parker
Keyword(s):  
Security Policy ◽  
European Economic Community ◽  
Rapid Progress ◽  
Economic Community ◽  
European Economic ◽  
Foreign And Security Policy ◽  
The Hague ◽  
The 1960S ◽  
Council Of Ministers ◽  
The Impact

This chapter focuses on the first years of the European Economic Community (EEC). It describes the early 1960s as a period of apparent success for the supranational elements within the EEC, noting the rapid progress made towards the creation of both a common market and a common agricultural policy. The chapter also examines the crisis sparked by France’s decision to boycott meetings of the Council of Ministers in response to proposals for a more supranational method of funding the EEC budget; the impact of this crisis on the process of European integration; the so-called Luxembourg Compromise; and the Hague Summit. It concludes by discussing the EEC’s expansion of its membership at the start of the 1970s, as well as its first moves towards an Economic and Monetary Union and a Common Foreign and Security Policy.

6. The ‘Other’ European Communities and the Origins of the European Economic Community (the Early 1950s to the 1960s)

2014 ◽  
pp. 103-118
Author(s):  
Ian Bache ◽  
Simon Bulmer ◽  
Stephen George ◽  
Owen Parker
Keyword(s):  
European Economic Community ◽  
Political Community ◽  
The Other ◽  
Economic Community ◽  
European Economic ◽  
The Road ◽  
Foreign Policies ◽  
Ultimate Failure ◽  
The 1960S ◽  
Energy Community

This chapter focuses on the ‘other’ European communities and the origins of the European Economic Community (EEC). Negotiations over a plan for a European Defence Community (EDC) ran parallel to those over the European Coal and Steel Community (ECSC). Connected with the EDC was a proposal to create a European Political Community (EPC) to provide democratic European structures for co-ordinating foreign policies. This chapter first considers the Pleven Plan for a EDC before discussing the development of the EDC/EPC plan and the ultimate failure to reach agreement in 1954. It also analyses the Messina negotiations and the road to the Treaties of Rome. Finally, it looks at the experience of the other organization that was created at the same time as the EEC, the European Atomic Energy Community (Euratom), which, like the ECSC, was institutionally merged with the EEC in 1967.

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