The international monetary context in the post-war period
The Bretton Woods Agreement
Statement by Franklin D. Roosevelt (29 June 1944)
TextOn 29 June 1944, US President Franklin D. Roosevelt welcomes participants at the Bretton Woods (New Hampshire) Monetary Conference for the establishment of a new international monetary system.
Inaugural address by Henry Morgenthau Jr (1 July 1944)
TextOn 1 July 1944, Henry Morgenthau Jr, US Secretary of the Treasury, outlines the issues to be discussed at the International Monetary Conference opening in Bretton Woods (New Hampshire).
Report of Commission I on the International Monetary Fund (20 July 1944)
TextOn 20 July 1944, the first Commission created by the Bretton Woods (New Hampshire) Conference gives a positive assessment of the work relating to the establishment of the International Monetary Fund (IMF).
The Bretton Woods Agreement (20 July 1944)
BildOn 20 July 1944, in Bretton Woods, New Hampshire, delegates from 44 countries sign agreements which establish the gold exchange standard and make the US dollar the only reserve currency convertible into gold.
Report of Commission II on the International Bank for Reconstruction and Development (21 July 1944)
TextOn 21 July 1944, the second Commission created by the Bretton Woods (New Hampshire) Monetary Conference adopts a report relating to the International Bank for Reconstruction and Development (IBRD).
Report by Commission III on financial and monetary cooperation (21 July 1944)
TextOn 21 July 1944, during the Bretton Woods Conference, the report by Commission III outlines measures to strengthen international financial and monetary cooperation.
Closing address by Henry Morgenthau, Jr (22 July 1944)
TextOn 22 July 1944, in his closing address, Henry Morgenthau, Jr, US Secretary of the Treasury and Chairman of the Bretton Woods Conference, welcomes the establishment of the International Monetary Fund and the International Bank for Reconstruction and Development.
Erklärung von Lord Keynes zum Vorschlag einer Bank für Wiederaufbau und Entwicklung (1944)
TextNach der Währungskonferenz von Bretton Woods (New Hampshire) im Jahr 1944 hält John Maynard Keynes, weltbekannter Wirtschaftswissenschaftler und Berater des britischen Finanzministeriums, ein Rede, in der er unterstreicht die dringende Notwendigkeit der baldigen Gründung einer internationalen Bank für Wiederaufbau und Entwicklung (IBRD).
Statement by Henry Morgenthau Jr (Washington, 7 March 1945)
TextOn 7 March 1945, Henry Morgenthau Jr, US Secretary of the Treasury, outlines the economic and political importance of the Bretton Woods Agreements in an address to the Committee on Banking and Currency of the House of Representatives in Washington.
"Die Abkommen von Bretton Woods" in Le Monde (26. Juli 1945)
TextAm 26. Juli 1945 kommentiert die französische Tageszeitung Le Monde die Ratifizierung der Währungsabkommen von Bretton Woods durch den amerikanischen Senat und beschreibt die herausragende Rolle des Dollar und der Vereinigten Staaten in dem neuen internationalen Währungssystem.
"Präsident Truman will die Vereinigten Staaten auf den Weg des „gelenkten Wohlstands" bringen" in Le Monde (26. Januar 1949)
TextAm 26. Januar 1949 kündigt die französische Tageszeitung Le Monde an, dass die Vereinigten Staaten den Weg des wirtschaftlichen Wohlstands eingeschlagen haben.
The Marshall Plan
Rede von George Marshall (Harvard, 5. Juni 1947)
TextAm 5. Juni hält der amerikanische Außenminister George Marshall an der Universität Harvard (Massachusetts) eine Rede, in der er allen europäischen Staaten, die unter dem Krieg gelitten haben, umfangreiche Wirtschaftshilfen anbietet.
Ansprache von George C. Marshall (Harvard, 5. Juni 1947)
BildAm 5. Juni 1947 empfängt die Universität Harvard (Massachusetts) den amerikanischen Außenminister George C. Marshall, der dort in einer Rede den europäischen Staaten finanzielle und wirtschaftliche Unterstützung unter der Voraussetzung einer engeren europäischen Zusammenarbeit anbietet.
Announcement of the Marshall Plan (Harvard, 5 June 1947)
BildOn 5 June 1947, the US Secretary of State, George C. Marshall, gives an address at Harvard University, Massachusetts, in which he offers the countries of Europe economic and financial assistance in exchange for closer European cooperation. George C. Marshall is in the centre, holding a hat and talking to Second World War hero, General Omar Nelson Bradley.
"Amerika zu den europäischen Problemen" in Luxemburger Wort (6. Juni 1947)
TextAm 6. Juni 1947 analysiert die luxemburgische Tageszeitung Luxemburger Wort die am Vortag vom amerikanischen Staatssekretär, George Marshall, in Harvard gehaltene Rede und setzt die Europa zugesagte amerikanische Hilfe in Parallele mit der Absicht der Sowjetunion, eine Balkan-Föderation zu etablieren.
‘European economic conference’ from De Volkskrant (6 June 1947)
TextOn 6 June 1947, the day after the US Secretary of State, George Marshall, gives his address at Harvard, the Dutch daily newspaper De Volkskrant speculates on the implementation of the United States’ programme of aid for Europe.
‘Nations of Europe, unite!' from Le Figaro (18 June 1947)
TextOn 18 June 1947, in the French daily newspaper Le Figaro, French diplomat André François-Poncet outlines the difficulties faced by Europe in responding to the proposal put forward by the American Secretary of State, George Marshall.
Memorandum by Joseph M. Jones (2 July 1947)
TextOn 2 July 1947, Joseph M. Jones, Special Assistant to the US Secretary of State, George C. Marshall, describes the role that he played in preparing the address given by Mr Marshall on 5 June 1947 at Harvard University.
‘Does the Marshall Plan fall under the heading of “American activities”?’ from La Tribune des Nations (7 November 1947)
TextOn 7 November 1947, the French weekly publication La Tribune des Nations reports on the statement by Virgil Jordan, President of the National Industrial Conference Board in the United States, in which he emphasises the dangers of the Marshall Plan for the economic and industrial fabric of America.
The Friendship Train (21 November 1947)
BildOn 21 November 1947, the American ‘Friendship Train’, loaded with food donations from US citizens destined for a war-torn Europe, leaves New York on a freighter down the Hudson River.
The Marshall Plan
"Der Erfolg des Marshallplans" in Le Populaire (24. November 1947)
TextAm 24. November 1947 verteidigt der Generalsekretär des Congress for Industrial Organisation (CIO) in der sozialistischen französischen Tageszeitung Le Populaire den Marshall-Plan gegen die Kritik einiger europäischer Gewerkschaften.
Correspondence between Ray Moseley and Harry S. Truman (1947)
TextOn 26 November 1947, estate agent Ray Moseley shares his concerns with US President Harry Truman about the financial aid provided by the United States to European countries at the expense of American households. In his reply, dated 1 December 1947, Harry Truman points out that most European countries have been devastated by the war and urgently require US economic aid.
Message from US President Harry S. Truman to Congress (19 December 1947)
TextOn 19 December 1947, US President Harry S. Truman delivers an address to Congress on the issues involved in the economic reconstruction of Europe; he also outlines the aid provided by the United States for the purpose of getting the European economy back on its feet.
Karikatur von Illingworth zur Verabschiedung des Marshall-Plans im amerikanischen Kongress (7. Januar 1948)
Bild„Wenn wir erst einmal am Portier vorbei sind.“ Im Zusammenhang mit der Debatte im amerikanischen Kongress über die Zustimmung zum Marshall-Plan zeigt der britische Karikaturist Leslie Gilbert Illingworth am 7. Januar 1948, wie ungeduldig die europäischen Länder auf die amerikanische Finanz- und Wirtschaftshilfe warten.
Cartoon by Illingworth on the Marshall Plan and the difficulties of unifying Western Europe (8 March 1948)
BildOn 8 March 1948, faced with the threat of the Soviet bloc, British cartoonist Leslie Gilbert Illingworth illustrates the efforts made by Georges Marshall, US Secretary of State, to gather around him the countries of Western Europe, thereby forming a united front against the dangers of Communism.
Cartoon by Lang on the Cold War and the Marshall Plan (13 March 1948)
Bild‘The wolf and the little goats. A fairytale yesterday — and today?’ In March 1948, referring to the Marshall Plan, German cartoonist Lang illustrates the solidarity binding the countries of Western Europe, which are uniting to protect convalescent Germany from the Soviet threat.
American Law on the Economic Cooperation Act (3 April 1948)
TextOn 3 April 1948, US President Harry Truman, signs the law creating the Economic Cooperation Administration (ECA) whose role is to manage the programme of material and financial aid granted to European countries by the United States.
Der Marshall-Plan (Pathé, 7. April 1948)
VideoAm 5. Juni 1947 bietet der amerikanische Staatssekretär George C. Marshall allen Staaten Europas wirtschaftliche und finanzielle Hilfe an. Sechzehn von ihnen werden das European Recovery Program (ERP), auch Marshall-Plan genannt, akzeptieren.
Appointment of Paul Hoffman (Washington, 9 April 1948)
BildOn 9 April 1948, the US President, Harry Truman (right), appoints Paul Hoffman (left) as Administrator of the Economic Cooperation Administration (ECA) tasked with allocating the funds provided by the Marshall Plan.
‘Provisional figures for aid allocated to the various European countries’ from La Dernière Heure (21 April 1948)
TextOn 21 April 1948, the Belgian liberal daily newspaper La Dernière Heure publishes the provisional figures for the financial aid allocated by the United States to the European countries under the Marshall Plan for aid to Europe.
Cartoon by Illingworth on the implementation of the Marshall Plan for Europe (14 July 1948)
BildIn July 1948, British cartoonist Leslie Gilbert Illingworth illustrates the economic aid provided by the United States under the Marshall Plan and emphasises the importance of European reconstruction.
Cartoon by Shepard on Paul Hoffman’s role in the European post-war reconstruction effort (4 August 1948)
BildIn August 1948, British cartoonist Ernest Howard Shepard emphasises the role played by Paul Hoffman, Administrator of the Economic Cooperation Administration (ECA), which was responsible for distributing the funds provided under the Marshall Plan for the economic reconstruction of Western Europe.
Marshall Plan negotiations (Washington, 29 November 1948)
BildOn 29 November 1948, the US President, Harry S. Truman (left) meets with George C. Marshall, Paul Hoffmann and Averell Harriman in the Oval Office of the White House to discuss the implementation of the Marshall Plan for the reconstruction of Europe.
Letter from George Marshall to Robert Schuman (14 January 1949)
TextOn 14 January 1949, George Marshall, US Secretary of State, writes a letter to Robert Schuman, French Foreign Minister, in which he recognises the role of France in the reconstruction of post-war Europe.
Harry B. Price interviews George C. Marshall (30 October 1952)
TextOn 30 October 1952, George C. Marshall grants an interview to Harry B. Price in which the former US Secretary of State outlines the origins of the Marshall Plan and describes the important role played by George Kennan and Arthur Vandenberg in drawing up the European Recovery Program (ERP).
Harry S. Truman, Mémoires
TextDans ses Mémoires, Harry S. Truman, ancien président des États-Unis, évoque les raisons de la mise en place d'une aide économique américaine en faveur de l'Europe au lendemain de la Seconde Guerre mondiale.
Plakate zum Marshall-Plan
TextDiese Reihe von Plakaten aus verschiedenen europäischen Ländern heben den Segen der amerikanischen Wirtschaftshilfe im Rahmen des Marshall-Plans hervor.
Interview mit Leo Tindemans: die Wirtschaftshilfe für die Marshall-Plan-Staaten (Brüssel, 24. Februar 2006)
VideoIn diesem Interview spricht Leo Tindemans, ehemaliger Attaché der Wirtschaftsabteilung des belgischen Landwirtschaftsministeriums, über die Wirtschaftshilfe, die den europäischen Ländern nach dem Zweiten Weltkrieg von den Vereinigten Staaten im Rahmen des Marshall Plans zuteil wurden.
Interview mit Hans-August Lücker: die Reform der Landwirtschaft (Bonn, 15. Mai 2006)
VideoIn diesem Interview spricht Hans-August Lücker, ehemaliger Direktor der bayerischen Landwirtschaftskammer und Verfasser eines Memorandums über die Verwendung der Marshall-Plan-Hilfen in der Landwirtschaft, über die Notwendigkeit nach dem Zweiten Weltkrieg, die Landwirtschaft zu einem leistungsstarken und rentablen Wirtschaftszweig innerhalb einer sozialen Marktwirtschaft zu machen.
The OEEC
The OEEC Charter (Paris, 16 April 1948)
BildOn 16 April 1948, in Paris, representatives of the 16 European States that have accepted the US aid provided under the Marshall Plan sign the Convention establishing the Organisation for European Economic Cooperation (OEEC) which will enter into force on 1 July 1948.
Signing of the OEEC Charter (Paris, 16 April 1948)
BildOn 16 April 1948, in Paris, the representatives of the 16 European States that have accepted aid under the Marshall plan sign the Convention establishing the Organisation for European Economic Cooperation (OEEC), which is to enter into force on 1 July 1948. Georges Bidault, French Foreign Minister, initials the Convention on behalf of France.
Belgium signs the OEEC Charter (Paris, 16 April 1948)
BildOn 16 April 1948, at the Château de la Muette in Paris, Paul-Henri Spaak, Belgian Prime Minister and Foreign Minister, signs the Convention establishing the Organisation for European Economic Cooperation (OEEC).
Convention for European Economic Cooperation (Paris, 16 April 1948)
TextSigned on 16 April 1948 in Paris by representatives from Austria, Belgium, Denmark, France, Greece, Ireland, Iceland, Italy, Luxembourg, Norway, the Netherlands, Sweden, Switzerland, Turkey, the United Kingdom and by the French, British and American commanders-in-chief of the Occupation zones in Germany, the Convention creating the Organisation for European Economic Cooperation enters into force on 1 July 1948.
Italian memorandum to France (24 August 1948)
TextOn 24 August 1948, the Italian Government sends to the French Government a memorandum in which it emphasises the important role to be played by the Organisation for European Economic Cooperation (OEEC), which is seen as an essential force for European unification.
Agreement for Intra-European Payments and Compensations (Paris, 16 October 1948)
TextSigned on 16 October 1948 in Paris by the representatives of Austria, Belgium, Denmark, France, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Sweden, Swtizerland, Turkey and the United Kingdom, by the Commanders-in-Chief of the French, British and US occupation zones in Germany and by the Commander of the British-US zone of the Free Territory of Trieste, the first Agreement for Intra-European Payments and Compensations aims to establish a regional payments system in order to encourage intra-European trade.
The OEEC
OEEC progress report on the European recovery programme (Paris, 30 December 1948)
TextOn 30 December 1948, the Organisation for European Economic Cooperation (OEEC) publishes its progress report on the issues arising from the economic reconstruction of post-war Europe.
OEEC Interim Report on the European Recovery Programme in Austria (Paris, 30 December 1948)
TextOn 30 December 1948, the Organisation for European Economic Cooperation (OEEC) publishes its Interim Report on the European Recovery Programme that focuses on the economic situation in Austria.
OEEC progress report on the economic recovery programme in the Benelux countries (30 December 1948)
TextOn 30 December 1948, the Organisation for European Economic Cooperation (OEEC) publishes its progress report on the economic recovery programme in the Benelux countries.
OEEC report on the economic recovery programme in Italy (30 December 1948)
TextOn 30 December 1948, the Organisation for European Economic Cooperation (OEEC) publishes its progress report on the economic recovery programme in Italy.
OEEC report on the economic recovery programme in the United Kingdom (30 December 1948)
TextOn 30 December 1948, the Organisation for European Economic Cooperation (OEEC) publishes its progress report on the economic recovery programme in the United Kingdom.
Robert Marjolin, Secretary-General of the OEEC (Paris, April 1949)
BildRobert Marjolin, Secretary-General of the Organisation for European Economic Cooperation (OEEC), records a message in the Paris studios of ‘Voice of America’, to be broadcast from the New York studio on the first anniversary of the Marshall Plan in April 1949.
'The future of the OEEC' from Il nuovo Corriere della Sera (29 October 1949)
TextOn 29 October 1949, the Italian newspaper Il nuovo Corriere della Sera considers the future of the Organisation for European Economic Cooperation (OEEC) and stresses the importance of coordinating national economic policies across Europe.
‘Europe has promised too much and achieved too little’ from Het Parool (20 December 1949)
TextOn 20 December 1949, the Dutch daily newspaper Het Parool speculates on the action of the Organisation for European Economic Cooperation (OEEC) in favour of European economic integration.
‘Mr Stikker’ from Het Vrije Volk (1 February 1950)
TextOn 1 February 1950, the Dutch daily newspaper Het Vrije Volk welcomes the appointment of Dirk U. Stikker, Dutch Foreign Minister, to the post of ‘political mediator’ of the Organisation for European Economic Cooperation (OEEC).
Cartoon by Roc on the role played by Dirk Stikker in the OEEC (11 February 1950)
Bild‘The Stikker Plan.’ On 11 February 1950, Roc, the Dutch cartoonist, depicts the US-backed appointment of Dirk U. Stikker, Netherlands Foreign Minister, as ‘Political Ombudsman’ of the Organisation for European Economic Cooperation (OEEC).
‘The Stikker Plan’ from Het Vrije Volk (13 June 1950)
TextOn 13 June 1950, the Dutch daily newspaper Het Vrije Volk comments on the proposal by Dirk Stikker, Dutch Foreign Minister, to pursue European integration by sector.
Report on the activities of the OEEC in 1950–1951 (Venice, 23 to 30 September 1951)
TextIn September 1951, the Organisation for European Economic Cooperation (OEEC) publishes a report which focuses on how the organisation was founded and its working methods, along with its general policies.
OEEC meeting (Washington, 10 April 1953)
BildOn 10 April 1953, a meeting in Washington of the Organisation for European Economic Cooperation (OEEC) provides an opportunity for a study of the economic situation in Europe. From left to right: Harold Stassen (Director of Mutual Security), Sir Hugh Ellis-Rees (President of the OEEC Council), Hans Karl von Mangoldt (Chairman of the Managing Board of the European Payments Union), Attilio Cattani (Chairman of the OEEC Executive Committee), Baron Jean Charles Snoy et d’Oppuers (Chairman of the Exchange Steering Committee) and Robert Marjolin (OEEC Secretary-General).
Speech by Karl Harten on increasing productivity in Europe (1954)
TextIn 1954, Karl Harten, Director of the European Productivity Agency (EPA), outlines the EPA's activities and describes measures that aim at increasing productivity in Europe.
Report by Yvan Lavergne on coal supplies in Europe (1954)
TextIn 1954, Yvan Lavergne, Administrator at the Energy Division of the Organisation for European Economic Cooperation (OEEC), considers the OEEC's policies concerning coal supplies in Europe.
Dirk Stikker, OEEC, a Great Factor in European Co-operation
TextIn 1954, Dirk Stikker, Chairman of the Organisation for European Economic Cooperation (OEEC) from 1950 to 1952, analyses the work of the organisation during its early years.
The European Payments Union
‘Failure of the Eight at the OEEC’ from Le Phare Dimanche (12 June 1949)
TextOn 12 June 1949, the Brussels newspaper Le Phare Dimanche outlines the reasons for the failure of the meeting of the Consultative Council of the Organisation for European Economic Cooperation (OEEC) that was convened to draw up a plan for regulating intra-European payments.
Proposals put forward by the European Movement concerning the establishment of free convertibility of European currencies (29 October 1949)
TextOn 29 October 1949, the European Movement sends the Consultative Assembly of the Council of Europe and the Organisation for European Economic Cooperation (OEEC) a memorandum in which it calls for a return to free convertibility of currencies in Europe.
British memorandum on the future of intra-European payments (15 December 1949)
TextOn 15 December 1949, the United Kingdom submits to the Secretariat of the Organisation for European Economic Cooperation (OEEC) a memorandum which emphasises the importance of the introduction of a new scheme which will govern the future of intra-European payments.
Cartoon by Low on the United States’ reaction to the slow negotiations for the establishment of a European Payments Union (28 December 1949)
BildOn 28 December 1949, British cartoonist David Low illustrates the United States’ irritation at the slow establishment of a European Payments Union intended to aid transactions and revive trade between the OEEC member countries.
Memorandum presented by Belgium on the European Payments Union (Brussels, 8 March 1950)
TextOn 8 March 1950, the Belgian authorities submit to the Organisation for European Economic Cooperation (OEEC) a memorandum on the implications and objectives of a future European Payments Union (EPU).
Brief von Hubert Ansiaux an Paul van Zeeland (Brüssel, 27. März 1950)
TextAm 27. März 1950 verfasst Hubert Ansiaux, Direktor der belgischen Nationalbank, für den belgischen Außenminister Paul van Zeeland, einen Bericht über den Stand der Verhandlungen zur Einrichtung einer Europäischen Zahlungsunion (EZU).
Cartoon by Low on the European Payments Union (28 March 1950)
BildOn 28 March 1950, the British cartoonist, David Low, illustrates the hesitations of Ernest Bevin, British Foreign Secretary (left), and Hugh Gaitskell, British Chancellor of the Exchequer (right), at calls from Paul Hoffman, US administrator of the Economic Cooperation Administration (ECA) given the task of managing the distribution of funds under the Marshall Plan, for them to join the future European Payments Union (EPA).
Draft plan for a European Payments Union (Paris, 14 April 1950)
TextOn 14 January 1950, in Paris, representatives of the 16 Member States of the Organisation for European Economic Cooperation (OEEC) draw up an initial draft outlining the structure and aims of a European Payments Union (EPU).
Report submitted to Paul van Zeeland by Hubert Ansiaux (Paris, 26 May 1950)
TextOn 26 May 1950, Hubert Ansiaux, Governor of the National Bank of Belgium and member of the Belgian delegation at the negotiations of the Sixteen on the creation of a European Payments Union (EPU), briefs Paul van Zeeland, Belgian Foreign Minister, on the progress made regarding the establishment of an EPU.
The European Payments Union
‘Petsche Plan: a European bank for industry’ from De Volkskrant (7 July 1950)
TextOn 7 July 1950, the Netherlands daily newspaper De Volkskrant reports on the proposal put forward by Maurice Petsche, French Finance Minister, to establish a European Payments Union (EPU).
‘EPU’ from Het Parool (7 July 1950)
TextOn 7 July 1950, the Dutch daily newspaper Het Parool describes the operation and tasks of a future European Payments Union (EPU).
Agreement on the establishment of a European Payments Union (19 September 1950)
TextOn 19 September 1950, representatives from the Governments of Austria, Belgium, Denmark, France, the Federal Republic of Germany (FRG), Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Sweden, Switzerland, Turkey, the United Kingdom of Great Britain and Northern Ireland and the Commandant of the Anglo-American Zone of the free territory of Trieste sign in Paris the Agreement on the establishment of a European Payments Union (EPU).
Signing of the Agreement on the establishment of a European Payments Union (Paris, 19 September 1950)
BildOn 19 September 1950, the Agreement on the establishment of a European Payments Union (EPU) is signed in Paris. The photo shows (from left to right): Milton Katz, United States Special Representative, Herbert Prack, President of the Council and Head of the Delegation of Austria, and Robert Marjolin, OEEC Secretary-General, examining the recently signed agreement.
"Liberalisierung des Handels und Europäische Zahlungsunion" in Bulletin du Conseil National du Patronat Français (Dezember 1950)
TextIm Dezember 1950 untersucht der Bulletin du Conseil national du patronat français die Position Frankreichs und Deutschlands in der Europäischen Zahlungsunion (EZU).
First Annual Report of the European Payments Union (1951)
TextIn 1951, the European Payments Union (EPU) publishes its first annual report setting out the main activities of the organisation since it was created.
‘EPU — the dance for dollars’ from Het Vrije Volk (5 June 1952)
TextOn 5 June 1952, the Dutch daily newspaper Het Vrije Volk comments on the future prospects of the European Payments Union (EPU).
Third Annual Report of the European Payments Union (1953)
TextIn 1953, the third annual report published by the European Payments Union (EPU) reviews the activities carried out by the organisation in its member states.
Report by Ernest Waters on the European Payments Union (1954)
TextIn 1954, Ernest Waters, head of the Payments Division of the Organisation for European Economic Cooperation (OEEC), outlines the role and operation of the European Payments Union (EPU).
Dirk Stikker, Men of Responsibility
TextIn his memoirs, Dirk Stikker, Netherlands Foreign Minister from 1948 to 1952, describes the creation of the European Payments Union by the 18 Member States of the OEEC in 1950.
The European Monetary Agreement
European Monetary Agreement (Paris, 5 August 1955)
TextOn 5 August 1955, in Paris, Austria, Belgium, Denmark, the Federal Republic of Germany (FRG), France, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Sweden, Switzerland, Turkey and the United Kingdom sign the European Monetary Agreement (EMA) intended to replace the European Payments Union (EPU) in early 1959.
Protocol of Provisional Application of the European Monetary Agreement (Paris, 5 August 1955)
TextOn 5 August 1955, in Paris, Austria, Belgium, Denmark, the Federal Republic of Germany (FRG), France, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Sweden, Switzerland, Turkey and the United Kingdom of Great Britain and Northern Ireland adopt the Protocol of Provisional Application of the European Monetary Agreement (EMA) intended to replace the European Payments Union (EPU) in early 1959.
Supplementary Protocol No 2 amending the European Monetary Agreement (Paris, 27 June 1958)
TextOn 27 June 1958, Austria, Belgium, Denmark, the Federal Republic of Germany (FRG), France, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Sweden, Switzerland, Turkey and the United Kingdom of Great Britain and Northern Ireland adopt a number of technical amendments to the European Monetary Agreement (EMA).