On 29 May 1970, the European Finance Ministers meet in Venice to debate the interim report on the establishment by stages of an economic and monetary union. This draft summary report shows that the discussions were very lively and often characterised by disagreement.

Statement made by Karl Schiller, German Minister for the Economy, at the Conference of the Economic and Finance Ministers of the European Communities in Venice on 29 and 30 May 1970, concerning the interim report drafted by the ad hoc group.

Notes taken by Pierre Werner, Luxembourg Minister of State, President of the Government and Finance Minister, at the Conference of European Finance Ministers in Venice on 29 and 30 May 1970.

With this note drafted by a member of the German delegation, the Foreign Ministry and Ministry of the Economy of the Federal Republic of Germany are informed in detail of the conclusions of the 35th meeting of EEC Economic and Finance Ministers, held on 29 and 30 May 1970 in Venice to examine the discussions on the interim Werner Report and the areas in which the Werner Committee will be furthering its work in order to draw up a final report.

Thematic proposals by Pierre Werner on the extension of the work of the Werner Group, which has been tasked with drafting a report on the gradual establishment of economic and monetary union in the European Community.

After the Conference of European Finance Ministers in Venice on 29 and 30 May 1970, the Werner Group is required to further its work. Four main focus areas are chosen: the institutional field, the strengthening of the coordination of economic policies, budgetary and monetary policy and the exchange regime.

On 1 June 1970, Hans Tietmeyer, an official in the German Ministry of the Economy and alternate member of the Werner Group, submits a report to Johann-Baptist Schöllhorn, State Secretary in the German Ministry of the Economy, on the conclusions of the Conference of Economic and Finance Ministers held in Venice on 29 and 30 May 1970, at which the ministers debated the plan by stages for an economic and monetary union.

On 8 June 1970, Otmar Emminger, Deputy President of the Bundesbank, informs Johann-Baptist Schöllhorn, State Secretary in the Ministry of the Economy of the Federal Republic of Germany, of a meeting that he had with Jelle Zijlstra, President of the Nederlandsche Bank. He sets out several important points that need to be addressed within the ad hoc group for the establishment of an economic and monetary union, particularly the coordination of budgetary policies in the European Community.

Notes by Pierre Werner in preparation for his address at the EEC Council of Ministers on 8 and 9 June 1970 in Luxembourg. The Luxembourg Minister of State, President of the Government and Finance Minister analyses the interim report on the establishment by stages of an economic and monetary union and emphasises the need to further the work.

Notes by Pierre Werner, Luxembourg Minister of State, President of the Government and Finance Minister, on the meeting of the Council of Ministers held on 8 and 9 June 1970 in Luxembourg.

At its sessions of 8 and 9 June 1970, the Council of the European Communities reaffirms its determination to achieve economic and monetary union and approves the continuation of the work of the Werner Committee on the basis of the interim report.

On 16 June 1970, Baron Hubert Ansiaux, Belgian Chairman of the Committee of Governors of the Central Banks of the EEC Member States, gives a positive reply to Pierre Werner’s request and undertakes to provide an opinion from the Committee of Governors by 15 July on the advisability of harmonising monetary policy instruments and effectively tightening monetary policies in the Member States.