In 1972, the European Commission commissions a study group to draw up a report on the possibilities of establishing a European economic and monetary union. In March 1973, the group of experts submits its analysis on the economic integration and monetary unification of Europe.

On 28 June 1973, the Commission of the European Communities submits a report to the Council on the adjustment of short-term monetary support arrangements and the conditions required for the progressive pooling of reserves.

In October 1973, the Magnifico Report is published, following a study conducted by experts appointed by the Commission of the European Communities under the leadership of Professor G. Magnifico. The report, drafted under the aegis of the Commission’s Directorate General for Economic and Financial Affairs, focuses on the issue of European economic integration and monetary unification.

In connection with reflections on European monetary revival, the Committee of Governors of the Central Banks appoints a group of experts chaired by F. Heyvaert (the Heyvaert Group) to analyse the French proposals on the European Unit of Account and to sketch out possibilities for its potential revision. The Heyvaert Group’s report is published on 3 December 1974.

At its sessions of 16 September and 18 November 1974, the Council of the European Communities tasks the Committee of Governors of the Central Banks with studying French proposals on European monetary revival. At the invitation of the Committee of Governors, a group of experts chaired by F. Heyvaert (the Heyvaert Group) looks in turn at the various areas targeted by these proposals and drafts a report, published on 3 December 1974, outlining the possibilities for coordinated action on the Euromarkets.

On 4 December 1974, the Monetary Committee of the European Communities publishes a report on the question of the European Unit of Account.

In 1974, the European Commission signalled its intention to set up a study group to draw up a report on the progress made towards economic and monetary union. On 8 March 1975, the group of experts, known as the study group ‘Economic and Monetary Union 1980’ and chaired by Robert Marjolin, submits its report. This document, called the ‘Marjolin Report’, sets out the main factors that contributed to the Werner Plan being put on hold.

In this interview, Leo Tindemans, former Belgian Prime Minister, describes how he was appointed by his peers, at the end of the Paris Summit of 9 and 10 December 1974, to draw up a report on European Union and how he selected the team of people to support him in this task.

On 27 September 1975, Belgian Prime Minister Leo Tindemans gives an interview to the Dutch section of the European Movement in which he describes the objectives and procedures of his mission to define the notion of a ‘European Union’.

In 1975, Leo Tindemans, Belgian Prime Minister, outlines the circumstances in which he was appointed by his peers at the Paris Summit of 9 and 10 December 1974 to draw up a report on European Union and specifies the aims of this report.

On 29 December 1975, the Belgian Prime Minister, Leo Tindemans, publishes his report on European Union, drawn up on the basis of instructions given by the Nine at the Paris European Council of 9 and 10 December 1974.

On 16 January 1976, the Optica Report 1975 is published (‘Optica’ for ‘Optimum Currency Areas’). This report is the result of a study carried out by experts appointed by the Commission of the European Communities to examine the concept of an optimum currency area in Europe.

On 27 October 1977, Roy Jenkins, President of the European Commission, gives an address at the European University Institute (EUI) in Florence on the establishment of a European monetary union. He presents it as the surest way of reviving economic growth and combating inflation and unemployment.

In April 1977, a group of experts appointed by the Commission of the European Communities and chaired by Donald MacDougall presents the first volume of its report on the role of public finance in European integration.

In April 1977, a group of experts appointed by the Commission of the European Communities and chaired by Donald MacDougall presents the second volume of its report on the role of public finance in European integration.

At a reflection meeting of the Commission of the European Communities held from 16 to 18 September 1977, the President of the EC Commission presents a note on the prospect of monetary union in Europe.

In 1978, in connection with the ongoing reflection on economic and monetary union, the Commission of the European Communities sets up a group of experts, led by Lord Cromer, to examine the concept of parallel currencies, the question of units of account and the monetary organisation of Europe. The ‘Report of Lord Cromer’s Group’ was officially presented on 1 November 1978.

On 24 September 1979, Dirk Spierenburg presents to the Commission the report drawn up under his chairmanship on reforming the Commission of the European Communities and its services.

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).