Portrait Pierre Werner, one of the first instigators of economic and monetary Union who played a significant role in the development of the euro. In the 1970s, a special study group was created to consider monetary union. This group was led by Pierre Werner, then Luxembourgish Prime Minister and close to Jean Monnet, who also took part in his action committee for the United States of Europe. The Pierre Werner report launched the idea of a common monetary policy suggesting a transfer of competence from the States towards the Community. This report was the basis of the plan adopted by the Commission of the European Communities, which led to the creation of the European monetary snake in 1972. This first outline for co-operation stabilised European currencies.
Type: HISTORY Reference: I-028576 Date: 12/07/1999 Duration: 46:37 Choose available languages: ORIGINAL,