In this interview excerpt, Niels Thygesen, Adviser to the Governor of the Danmarks Nationalbank from 1973 to 1983, Chairman of the Danish Economic Council from 1983 to 1985 and a member of the Delors Committee set up to study and propose practical steps that would lead to the gradual establishment of Economic and Monetary Union (EMU) from 1988 to 1989, outlines the main aspects of the Delors Report on the establishment of EMU.

In this interview excerpt, Niels Thygesen, Adviser to the Governor of the Danmarks Nationalbank from 1973 to 1983, Chairman of the Danish Economic Council from 1983 to 1985 and a member of the Delors Committee set up to study and propose practical steps that would lead to the gradual establishment of Economic and Monetary Union (EMU) from 1988 to 1989, describes the main differences between the two reports on the establishment of EMU: the Werner Report of 8 October 1970 and the Delors Report of 12 April 1989.

In this interview excerpt, Niels Thygesen, Adviser to the Governor of the Danmarks Nationalbank from 1973 to 1983, Chairman of the Danish Economic Council from 1983 to 1985 and a member of the Delors Committee set up to study and propose practical steps that would lead to the gradual establishment of Economic and Monetary Union (EMU) from 1988 to 1989, describes the shortcomings of the Delors Report in addressing budgetary imbalances between the states within EMU and on the matter of the supervision of the banking sector.

In this interview excerpt, Niels Thygesen, Adviser to the Governor of the Danmarks Nationalbank from 1973 to 1983, Chairman of the Danish Economic Council from 1983 to 1985 and a member of the Delors Committee set up to study and propose practical steps that would lead to the gradual establishment of Economic and Monetary Union (EMU) from 1988 to 1989, describes the personality of Jacques Delors, President of the European Commission from 1985 to 1995, particularly referring to Delors’ relations with European leaders of the time, especially François Mitterrand, Helmut Kohl and Margaret Thatcher, and with the other members of the Delors Committee.

In this interview excerpt, Niels Thygesen, Adviser to the Governor of the Danmarks Nationalbank from 1973 to 1983, Chairman of the Danish Economic Council from 1983 to 1985 and a member of the Delors Committee set up to study and propose practical steps that would lead to the gradual establishment of Economic and Monetary Union (EMU) from 1988 to 1989, shares his thoughts on the current fiscal and monetary crisis facing the European Union in the light of the shortcomings that have become apparent in the Delors Report.