The summary report of the 61st meeting of the Committee of Governors of the Central Banks of the EEC Member States, held in Basel on 10 July 1972, reports on the discussions between experts concerning the continuation of talks on a European monetary cooperation fund. The discussions focused on four main issues: the use of a unit of account, which was vital for the smooth operation of such a fund; the organisation and statutes of a monetary cooperation fund; the pooling of the Member States’ reserves; and a more comprehensive, ambitious approach to the fund.