CONSIDERAŢII PRIVIND CRIZA SISTEMULUI MONETAR INTERNAŢIONAL ŞI CREAREA SISTEMULUI MONETAR EUROPEAN
CONSIDERATIONS ABOUT INTERNATIONAL MONETARY SYSTEM AND CREATION OF THE EUROPEAN MONETARY SYSTEM

Summary/Abstract: The oil shock and the International Monetary System’s crises from Bretton Woods, led between 1971 – 1973 to high rates of inflation and turbulances of the national currency exchange and interrupted the implementation of the Werner Plan (Pierre Werner, the Prime Minister of Luxemburg). The aim of this plan was to make a detailed report concerning the creation of a complete monetary union between European economies. This report proved the necessity of monetary cooperation, but also specifically suggested the possibility to create a unique European currency for 1980. Even if the Werner Plan wasn’t ever implemented, one can notice the resemblance to the Monetary Union’s project of our days, many of his stipulations and experiences being taken over 20 years later by the Delores Report.

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