In this new episode of EU History Explained, Giulia Bonacquisti, Project Manager at the Trans European Policy Studies Association (TEPSA), takes a look at the history of one of the most important parts of the European Union: the Euro, our common currency.
In a few months, we will celebrate the 20th anniversary of the introduction of Euro banknotes and coins, which came into circulation on January 1st 2002. But the history of our common currency stretches back a lot further than that, way back to 1957 and the Treaty of Rome, which outlined measures to promote coordination in economic and monetary matters. But it was not until the early 1970s that policy started to be shaped in the wake of the end of the Bretton Woods system and the Werner Report.
Since then, economic integration has progressed through the Delors presidency of the European Commission, through the Chancellorship of Helmut Schmidt in Germany and the Presidency of Valéry Giscard d’Estaing in France, and into the 1990s when the Maastricht Treaty founded the modern European Union and economic integration accelerated, culminating in the introduction of the Euro in 1999 as a virtual single currency.
EU History Explained is TEPSA’s video series exploring the origins of the modern EU. If you have ever wondered how the European Union of today came to be, or what lies behind the talk of politics being shaped in ‘Brussels’, then this is the series for you!