The Delors Report

André Szász
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André Szász: Dutch Central Bank

Chapter 12 in The Road to European Monetary Union, 1999, pp 110-119 from Palgrave Macmillan

Abstract: Abstract By the time the European Council under Helmut Kohl’s chairmanship met in Hanover on 27 and 28 June 1988, there was no doubt a group would be created to look into Economic and Monetary Union as a result of the expectations that had arisen, largely thanks to Genscher. As is so often the case with political meetings of this sort, the real issues were not discussed: why create such a group, why establish EMU, what would be its implications, and how did it relate to political integration. Instead, the European Council focused on procedure: the mandate and, even more controversial, the composition of the group to be created. The fundamental disagreements on EMU were reflected in disagreements on these procedural issues, in particular on the group’s composition. A compromise was reached which, ironically, ensured its success more than anything else.

Keywords: European Central; European Council; Price Stability; European Monetary; Central Bank Independence (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-59947-5_12

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DOI: 10.1057/9780230599475_12

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