Auf der Tagung des Europäischen Rates am 7. und 8. April 1978 in Kopenhagen legen der deutsche Bundeskanzler Helmut Schmidt und der französische Staatspräsident Valéry Giscard d'Estaing ihren Partnern einen Vorschlag für ein europäisches Währungssystem vor.

In his memoirs, Roy Jenkins, President of the European Commission from 1977 to 1981, recalls the proposal submitted by the German Chancellor, Helmut Schmidt, to the Copenhagen European Council, held on 7 and 8 April 1978, with a view to the establishment of a new European Monetary System.

In 1978, the "European currency snake" is moribund, obliging the German Chancellor Helmut Schmidt to work for the launching of a new European Monetary System (EMS) open to all the States in the Community, including the United Kingdom.

In 1978, during the debates on the issue of monetary stability in Europe, Pierre Werner, Honorary Minister of State of the Grand Duchy of Luxembourg, sets out the objectives and implications of the future European Monetary System (EMS).

In June 1978, the monthly publication 30 jours d’Europe underlines the importance of the Bremen European Council, to be held on 6 and 7 July, for the revival of economic and monetary union (EMU).

Am 7. Juli 1978 gibt der deutsche Bundeskanzler und amtierende Vorsitzende im Rat der Europäischen Gemeinschaften Helmut Schmidt nach dem Europäischen Gipfel von Bremen eine Pressekonferenz, auf der er die Entscheidung der Neun bestätigt, ein Europäisches Währungssystem (EWS) zu schaffen.

Le 1er décembre 1978, le quotidien français Le Monde analyse les enjeux du Conseil européen de Bruxelles des 4 et 5 décembre en pointant particulièrement les risques pour la République fédérale allemande (RFA) d'une participation au Système monétaire européen (SME) et les effets du SME sur la Politique agricole commune (PAC).

Am 5. Dezember 1978 gibt der französische Staatspräsident Valéry Giscard d’Estaing nach dem Europäischen Rat in Brüssel eine Pressekonferenz, auf der er die Entscheidung der Neun bekannt gibt, ab dem 1. Januar 1979 das Europäische Währungssystem (EWS) einzurichten.

On 5 December 1978, the Brussels European Council adopts a resolution concerning the establishment and rules for the operation of the European Monetary System (EMS). The photo shows a demonstration for a single European currency.

On 6 December 1978, commenting on the outcome of the Brussels European Council held on 4 and 5 December 1978, the French daily newspaper Le Figaro welcomes the decision taken by the Heads of State or Government of the Nine to introduce a European Monetary System (EMS) on 1 January 1979.

On 6 December 1978, commenting on the outcome of the Brussels European Council of 4 and 5 December, Pierre Dabezies and René-Victor Pilhes, chairmen of the Association pour une nouvelle politique étrangère (‘Association for a new foreign policy’), publish an opinion piece in the French daily newspaper Le Monde warning against the risks of German monetary domination in Europe following the decision by the Nine to establish a European Monetary System (EMS) with effect from 1 January 1979.

Am 6. Dezember 1978, kurz nach dem Europäischen Rat von Brüssel, berichtet die konservative Tageszeitung La Libre Belgique über die schwierige Geburt des Europäischen Währungssystems (EWS) und fragt nach dessen Zukunft.

On 7 December 1978, commenting on the outcome of the Brussels European Council of 4 and 5 December, British daily newspaper The Guardian highlights the lack of solidarity that led to a division within the Nine over their participation in the European Monetary System (EMS) from 1 January 1979.

Am 8. Dezember 1978 illustriert der deutsche Karikaturist Peter Leger die Einführung des Europäischen Währungssystems (EWS) und die Entscheidung Italiens, Irlands und des Vereinigten Königreichs, sich nicht daran zu beteiligen. Das deutsch-französische Zweiergespann Giscard-Schmidt bildet die Grundpfeiler, die das Bauwerk stützen.

Bundeskanzler Helmut Schmidt berichtet am 21. Dezember 1978 vor dem deutschen Bundestag über die Ergebnisse des Europäischen Rates in Brüssel vom 4. und 5. Dezember. Die neun Mitgliedstaaten der Europäischen Gemeinschaft beschlossen dort die Einführung eines europäischen Währungssystems zum 1. Januar 1979.

On 13 December 1978, Irish MPs, meeting in the Dáil, debate the issue of Ireland's participation in the European Monetary System (EMS).

On 29 December 1978, French Prime Minister, Raymond Barre, declares himself to be in favour of the gradual withdrawal of monetary compensatory amounts (MCAs) in the context of the implementation of the European monetary system (EMS).

In its January 1979 editorial, the Italian journal Affari Esteri comments on Italy’s decision to join the European Monetary System in order to provide the country with greater economic stability.

On 13 March 1979, the European monetary system (EMS) and the European Currency Unit (ECU), which had been adopted by the Nine, enter into force.

En mars 1979, François-Xavier Ortoli, vice-président de la Commission des Communautés européennes, énonce dans la revue fédéraliste L'Europe en formation les trois objectifs de la mise en oeuvre du Système monétaire européen (SME).

On 14 March 1979, the day after the implementation of the European Monetary System (EMS), the French daily newspaper Le Monde describes the operation of the EMS and highlights its impact on the European currency exchange market.

In his editorial of 20 September 1979, Emanuele Gazzo, Editor-in-Chief of Agence Europe, ponders on the conditions for the political and economic success of the EMS.

In diesem Interview spricht Jacques F. Poos, ehemaliger luxemburgischer Finanzminister, über die Zielsetzung und die Kernpunkte des Europäischen Währungssystems (EWS) im Jahr 1979 und über dessen Einfluss auf die Währungsdisziplin in Europa vor und nach der Einführung des Euro.

In diesem Interview spricht Jacques Santer, ehemaliger luxemburgischer Finanzminister, über die Kernpunkte und die Einrichtung des Europäischen Währungssystems (EWS) im Jahr 1979.

In this interview, Jean François-Poncet, former Secretary-General of the Presidency of the French Republic and former French Foreign Minister, discusses the establishment of the European Monetary System (EMS) in 1979 on the joint initiative of the French President, Valéry Giscard d'Estaing, and the German Chancellor, Helmut Schmidt.

In this interview, Jacques de Larosière, former Director of the Treasury in the French Finance Ministry and former Managing Director of the International Monetary Fund (IMF), explains why the European Monetary System (EMS) was set up and analyses its impact in the process leading to the establishment of European Economic and Monetary Union.

In his memoirs, Roy Jenkins, former President of the European Commission, recalls the concerns raised by successive British Prime Ministers James Callaghan and Margaret Thatcher over the United Kingdom’s participation in the European Monetary System (EMS).

In October 1978, during the debates in the British Parliament on the European Monetary System (EMS), John Roper, Chairman of the Labour Committee for Europe, argues strongly in favour of the United Kingdom joining the EMS.

On 3 November 1978, Hugh Dykes, member of the British Conservative Party, outlines the consequences of the European Monetary System (EMS) for the United Kingdom and for international monetary policy.

On 3 October 1978, the British Trades Union Congress sets out its position on the implementation of a European Monetary System (EMS).

On 3 November 1978, Christopher Johnson, economic adviser to Lloyds Bank Limited, submits a report in which he rejects all the arguments put forward in the United Kingdom by opponents of the European Monetary System (EMS).

On 6 November 1978, Roy Jenkins, President of the European Commission, speaks to the Belgian Royal Society for Political Economy on the key events in the development of European monetary affairs and welcomes the recent establishment of the European Monetary System (EMS).

On 7 December 1978, the British daily newspaper The Guardian outlines the grounds put forward by the United Kingdom to justify its decision not to participate in the European Monetary System (EMS) and is surprised at the understanding demonstrated in this regard by Valéry Giscard d'Estaing, President of the French Republic.