The EMCF
Le FECOM
TextStatement by the Council of the EC on the international monetary crisis (12 March 1973)
TextOn 12 March 1973, the Council of the European Communities lists the measures taken by the Nine in order to cope with the international monetary crisis.
Regulation establishing the European Monetary Cooperation Fund (3 April 1973)
TextOn 3 April 1973, the Council adopts a Regulation establishing the European Monetary Cooperation Fund (EMCF). As Pierre Werner had envisaged in his ‘Report concerning the stage-by-stage implementation of economic and monetary union’, the EMCF was initially placed under the authority of the governors of the central banks and was later to be integrated into a Community of central banks organisation.
Statement by Pierre Werner on the fight to curb inflation (Luxembourg, 19 May 1973)
TextOn 19 May 1973, Luxembourg Prime Minister, Pierre Werner, emphasises the importance, for Luxembourg, of European monetary union as a tool to combat inflation.