On 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.

On 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.

On 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.

On 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.

On 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).

On 27 March 1950, Hubert Ansiaux, Governor of the National Bank of Belgium, submits to Paul van Zeeland, Belgian Foreign Minister, a report on the progress made in the negotiations on the creation of a European Payments Union (EPU).

On 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).

On 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).

On 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.

On 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).

On 7 July 1950, the Dutch daily newspaper Het Parool describes the operation and tasks of a future European Payments Union (EPU).

On 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).

On 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.

In December 1950, the Bulletin du Conseil National du Patronat Français (Bulletin of the National Council of French Employers) considers the position of France and Germany on the European Payments Union (EPU).

In 1951, the European Payments Union (EPU) publishes its first annual report setting out the main activities of the organisation since it was created.

On 5 June 1952, the Dutch daily newspaper Het Vrije Volk comments on the future prospects of the European Payments Union (EPU).

On 8 August 1952, Franz Blücher, Federal Minister for Marshall Plan Affairs, emphasises the difficulties experienced by the European Payments Union (EPU) in ensuring the smooth performance of payment operations at Community level.

In 1953, the third annual report published by the European Payments Union (EPU) reviews the activities carried out by the organisation in its member states.

In 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).

In 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.

On 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 sign the European Monetary Agreement (EMA) intended to replace the European Payments Union (EPU) in early 1959.

On 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.

On 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).