On 9 August 1969, the Italian daily newspaper Corriere della Sera reviews the reasons for and the repercussions of the 11.1 % devaluation of the French franc the previous day.

On 8 August 1969, France devalues its currency. The following day, the German daily newspaper Süddeutsche Zeitung considers the repercussions of this decision for a Europe in the throes of serious monetary difficulties.

On 13 August 1969, German cartoonist Ernst Maria Lang illustrates the serious monetary instability that is affecting Europe. As France devalues its national currency, the German authorities are pursuing a policy of revaluing the Deutschmark, which becomes Europe’s major currency. In view of this instability, the EEC car, with French President Georges Pompidou at the wheel, is finding it difficult to get going. Sitting in the back, Federal Chancellor Kurt Georg Kiesinger stresses to his Minister for the Economy, Karl Schiller, that he should avoid drawing the attention of the French partner to the imbalance between a strong mark and a weak franc.

In September 1969, the monthly publication 30 jours d’Europe outlines the reaction of the Six following the devaluation of their national currencies.

In July 1970, the European Commission forwards to the Council a memorandum on the political guidelines to be followed if inflationary tensions in Europe are to be successfully combated.

On 12 May 1971, in an interview with the Italian daily newspaper Corriere della Sera, Franco Maria Malfatti, President of the European Commission, sets out his concerns about the repercussions of the monetary difficulties in Europe.

In the June 1971 issue of the monthly publication 30 jours d’Europe, Jean Lecerf comments on the reactions of the European partners in Germany following the decision by the West German Government to allow the mark to float.

In November 1971, the French monthly publication Le Monde diplomatique casts a critical eye over the European Commission’s proposals to put an end to the monetary difficulties in Europe.

In his editorial of 22 February 1973, Emanuele Gazzo, Editor-in-Chief of Agence Europe, reviews the reactions of the central banks of the Nine to the influx of US dollars and to the floating of some national currencies.

In his editorial of 23 February 1973, Emanuele Gazzo, Editor-in-Chief of Agence Europe, comments on the implications of the international monetary crisis and calls for increased cooperation in this area at Community level.

In April 1973, in an article in the monthly publication 30 jours d’Europe, Emanuele Gazzo reviews the monetary policy of the Six and reiterates the need for Community cohesion with regard to the common monetary policy.

Europe of the Twelve: twelve national currencies.

On 19 January 1974, Valéry Giscard d’Estaing, French Finance Minister, announces the decision taken by France to float the French franc outside the strict parities imposed by the European monetary snake for a period of six months as a means of tackling the international monetary crisis.

In this programme broadcast on RTL radio on 19 January 1974, the journalist Roger Priouret, Jacques Rueff, member of the French Academy and expert on monetary issues, Michel Debré, MP and former Prime Minister under Charles de Gaulle, François Mitterrand, First Secretary of the Socialist Party, and Antoine Pinay, former Finance Minister and Ombudsman of the French Republic, give their reactions to the decision taken by Valéry Giscard d'Estaing, French Finance Minister, to float the French franc outside the fixed parities of the European monetary snake for a period of six months in order to cope with the international monetary crisis.

On 19 January 1974, Valéry Giscard d’Estaing, French Finance Minster, decides to float the French franc outside the strict parities imposed by the European monetary snake for a period of six months. Michel Debré, MP and former Gaullist Prime Minister, explains why he supports this decision.