EUROPEAN NEWS



EUROPEAN MONETARY COMMUNITY?

2015-07-20

Le Journal de Dimanche published the attached letter of President François Hollande to Jacques Delors at the occasion of his 90th. birthday. The letter could be sign of a substantial French initiative to return to the fundamental principles laid down in the Schuman Declaration of 9 May 1950. Reason why I entitled this item: A EUROPEAN MONETARY COMMUNITY. Indeed, the continuing crisis in the Monetary Union should have made clear to everybody, that one currency needs a supranational community to be able to survive. I hope that is what Hollande's letter is proposing: a true community in which effective solidarity among the 19, means responsibility transferred to common institutions. President Hollande must have realised in the present crisis, what Schuman realised in 1950. Without common institutions, the strongest power is bound to prevail. Deciding by Summit meetings - the dream of Charles de Gaulles and most of his successors - does not produce French but German predominance. I am looking forward to a French initiative in the spirit of Robert Schuman!


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Frans A.M. Alting von Geusau

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