Monetary Aspects of the Euro as Single European Currency – a German Perspective

2020 ◽  
pp. 1-50
Keyword(s):  
European Currency

Monetary Expert on Monnet’s Action Committee for the United States of Europe

2021 ◽  
pp. 151-176
Author(s):  
Ivo Maes
Keyword(s):  
United States ◽  
The United States ◽  
Commercial Banking ◽  
Monetary Integration ◽  
European Monetary ◽  
European Currency ◽  
Action Committee ◽  
Parallel Currency ◽  
Reserve Fund ◽  
European Currency Unit

Robert Triffin played a key role in the debates on European monetary integration, especially as the monetary expert of Monnet’s Action Committee for the United States of Europe. He developed proposals for European monetary cooperation, especially a European Reserve Fund and a European currency unit, inspired by his experience of the European Payments Union. In his view, a European Reserve Fund could be constituted by pooling 10% to 20% of the international reserves of the member states’ central banks. A key moment was the 1969 Hague summit when Triffin, via Jean Monnet, provided the German chancellor Willy Brandt with a plan for European monetary integration. Moreover, through his activities and connections in the world of commercial banking and finance, Triffin also actively promoted the European currency unit as a parallel currency in financial transactions and markets.

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