On 15 August 1971, in an adress to the nation, US President, Richard Nixon, announces the implementation of his new economic policy and speaks in detail about the measures taken to increase prosperity in the United States.

On 25 September 1971, French President, Georges Pompidou, holds a press conference during which he describes the causes of the European monetary crisis and proposes solutions to bring it to an end.

On 17 October 1971, Willy Brandt takes the initiative to define a common position of the Six on monetary policy. In a letter sent to Georges Pompidou, the German Chancellor approves the measures proposed by the French President at his press conference held on 25 September and emphasises the importance of consultation between France and the Federal Republic of Germany (FRG) in order to put an end to the monetary crisis.

On 3 December 1971, during a visit to Paris, the German Chancellor, Willy Brandt, and the French President, Georges Pompidou, discuss, in particular, the monetary crisis and relations between the European Communities and the United States.

On 18 December 1971, the 'Group of Ten' published a communiqué detailing the main monetary measures approved by the Ministers and the Governors of the Central Banks of the ten countries participating in the General Agreements to Borrow in Washington.

In an annex to the final declaration of the Copenhagen European Summit of 14 and 15 December 1973, the Heads of State or Government of the Nine describe their fears with regard to the energy crisis affecting the main industrialised countries of the world and adopt a series of measures aimed at resolving it.

For the cartoonist Fritz Behrendt, ‘Winter 1973' is synonymous with the problems faced by the West in the wake of the oil crisis, although France continues to maintain good relations with the countries in the Middle East.

At the opening of the Washington Energy Conference, held from 11 to 13 February 1974, Walter Scheel, German Foreign Minister and President-in-Office of the Council, calls for greater international cooperation in order to resolve the energy crisis.

On 2 April 1974, François-Xavier Ortoli, President of the Commission of the European Communities, and Walter Scheel, Foreign Minister of the Federal Republic of Germany (FRG) and President-in-Office of the Council of the European Communities, issue a joint statement to the Council in which they outline the current problems and suggest measures to improve the decision-making mechanisms in the Community.