In March 1970, the Committee of Monetary Experts placed, by the European Movement, under the chairmanship of Giordano Dell’Amore, Rector of Milan’s Bocconi University in Milan, answers a series of questions on the economic and monetary unification of Europe.

On 18 February 1974, the Finance Ministers of the Nine meet in Brussels to discuss European Economic and Monetary Union (EMU). In this photo, Valéry Giscard d'Estaing (left) can be seen talking with Helmut Schmidt (centre) and Wilhelm Haferkamp (right).

On 9 December 1975, in the publication Sozialdemokratischen Pressedienst, Hans Apel, Finance Minister of the Federal Republic of Germany (FRG), expresses his hopes of putting an end to discussions on the reform of the European monetary system at the meeting of the interim Committee of the International Monetary Fund (IMF), due to take place in Jamaica on 7 and 8 January 1976.

On 22 August 1975 in Bremen, Hans Appel, Finance Minister of the Federal Republic of Germany (FRG) from 1974 to 1979, delivers a speech on international economic and monetary union, in which he offers his views on how to overcome the world recession.

Meeting in Kingston (Jamaica) on 7 and 8 January 1976, the interim Committee of the International Monetary Fund (IMF) decides permanently to abandon the monetary system of fixed but adjustable parities.

On 27 October 1977, at the European University Institute (EUI) in Florence, Roy Jenkins, President of the European Commission, gives an address in favour of the implementation of European monetary union. Two months later, the monthly publication 30 jours d’Europe analyses Mr Jenkins’ proposals and highlights their strong points.

On 19 November 1977, with Europe in the midst of economic difficulties, the German daily newspaper Frankfurter Allgemeine Zeitung considers the proposal put forward by the President of the Commission, Roy Jenkins, in favour of monetary union at European level.

On 6 and 7 July 1978, the Bremen European Council adopts the principle of creating a European monetary system (EMS) to involve the nine Community currencies.

On 8 July 1978, the day after the Bremen European Council, the German daily newspaper Frankfurter Allgemeine Zeitung enthusiastically announces the establishment of a European Monetary System (EMS) intended to secure an area of monetary stability in Europe.