Sterling, international monetary reform and Britain's applications to join the European economic community in the 1960s

Contemporary European History

Volumn 11, Issue 3, 2002, Pages 345-369

  Schenk, Catherine ^a  

^a NONE   (United States)

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EID: 34347369887     PISSN: 09607773     EISSN: 14692171     Source Type: Journal    
DOI: 10.1017/S0960777302003016     Document Type: Review

References (35)

1. See also M. Shanks and J. Lambert, Britain and the New Europe: the future of the Common Market (London: Chatto and Windus, 1962), 219-21.
2. J. E. Meade, UK, Commonwealth and Common Market: a reappraisal (London: IEA, 1962), 38.
3. S. Strange, The Sterling Problem and The Six (London: Chatham House, PEP, 1967), 7.
4. M. Kandiah and G. Staerck, 'Commonwealth International Financial Arrangements and Britain's First Application to Join the EEC', in A. May, ed., Britain, the Commonwealth and Europe; the Commonwealth and Britain's Applications to join the European Communities (London: Palgrave, 2001), 111 -131.
5. C. R. Schenk, 'The UK, The Sterling Area and the EEC, 1957-1963', in A. Deighton and A. S. Milward eds, Widening, Deepening and Acceleration; the European Economic Community 1957-1963 (Baden-Baden: Nomos-Verlag, 1999) 123 -137.
6. For the prewar period see I. M. Drummond, The Floating Pound and the Sterling Area, 1931-39 (Cambridge: Cambridge University Press, 1981).
7. For the postwar period see C. R. Schenk, Britain and the Sterling Area; from devaluation to convertibility in the 1950s (London: Routledge, 1994).
8. For contemporary accounts see A. J. Shonfield, British Economic Policy Since the War (London: Penguin, 1958).
9. A. R. Conan, The Problem of Sterling (London: Macmillan, 1966).
10. S. Strange, Sterling and British policy: a political study of an international currency in decline (Oxford: Oxford University Press, 1971).
11. Plans included those by Triffin in 1960. Stamp in 1962, Bernstein in 1963, and Giscard d'Estaing in 1965. See H. James, International Monetary Co-operation since Bretton Woods (Oxford: Oxford University Press, 1996), 168-70.
12. D. B. Kunz, 'Somewhat mixed up together: Anglo-American Defence and Financial Policy during the 1960s', Journal of Imperial and Commonwealth History, 27, 2 (May 1999), 213-32.
13. M. G. de Vries, The International Monetary Fund 1966-1971: the System under Stress, Vol. 1 (Washington, DC: IMF, 1976), 61-3.
14. A. Cairncross, Managing the British Economy in the 1960s (London: Macmillan, 1996), 257-8.
15. James, International Monetary Co-operation, 165-6.
16. Reproduced in Sixth Report of the Monetary Committee, Brussels, 15 April 1964.
17. Seventh Report of the Monetary Committee, Brussels, 12 February 1965. The EEC successfully moved back towards balance over the course of 1964.
18. Abs writing in an article published by The Times and Die Welt, 28 October 1966.
19. A. Shonfield, 'The Economic Implications of the Brussels Breakdown', in Royal Institute of International Affairs, Implications of the Brussels Breakdown (Oxford: Oxford University Press, 1963), 15-23, 16.
20. In his memoirs, Couve de Murville recalled that he only raised the issue of sterling once during these negotiations: M. Couve de Murville, Une Politique Etrangere 1958-1969 (Paris: Librairie Plon, 1971), 419.
21. On the German point of view see also P. Bernholz, 'The Bundesbank and the Process of European Monetary Integration', in Deutsche Bundesbank, ed., Fifty Years of the Deutsche Mark; central bank and the currency in Germany since 1948 (Cambridge: Cambridge University Press, 1999), 731-89, 745.
22. A. F. P. Bakker, The Liberalization of Capital movements in Europe: the Monetary Committee and financial integration 1958-1994 (Dordrecht: Kluwer Academic Publishers, 1996), 80-85.
23. Bakker, Liberalization, 92-4.
24. W. Kaiser, Using Europe, Abusing the Europeans: Britain and European Integration 1945-63 (London: Macmillan, 1996).
25. M. Vaisse, 'De Gaulle and the British "Application" to join the Common Market', in G. Wilkes, ed., Britain's Failure to Enter the European Community 1961-63; the enlargement negotiations and crises in European, Atlantic and Commonwealth Relations (London: Frank Cass, 1997), 51 -69.
26. M.D. Bordo, D. Simard and E. White, France and the Bretton Woods International Monetary System: 1960-1968, Working Paper No. 4642 (Cambridge, MA: NBER, 1994).
27. In November 1966 Wilson announced his intention to make high-level contact with the Six about accession. For the causes of the government's delay in applying again see D. Gowland and A. Turner, Reluctant Europeans: Britain and European Integration 1945-1998 (London: Longman, 2000), 154-8.
28. Quoted in F. Nicholson and R. East, From the Six to the Twelve: the enlargement of the European Communities (London: Longman, 1987), 31.
29. Cairncross notes that Michel Debré, French Minister of Economic Affairs and Finance, also believed there was a US imperialist plot: 'From the Treasury Diaries of Sir Alec Cairncross; four Anglo-French conflicts 1967-8', Contemporary European History, 6, 1 (1997), 117-31, 188, entry of 2 February 1967.
30. Opinion on the Applications for Membership received from the UK, Ireland, Denmark and Norway, Commission of the European Communities, Brussels, 29 September 1967.
31. A. Cairncross and B. Eichengreen, Sterling in Decline (London: Blackwell, 1983), 188.
32. G. Carli, 'The Monetary Aspects of British Entry into the Common Market', in Problems of British Entry into the EEC: Reports to the Action Committee for the United States of Europe (London: Chatham House, 1969), 43 -51, 1.
33. Quoted in Nicholson and East, From the Six to the Twelve, 60.
34. This was agreed at the Heath-Pompidou summit of 20-21 May 1971: Gowland and Turner, Reluctant Europeans, 176-7.
35. Strange, Sterling and the Six, 60.