The negotiations which led to the creation of the EuropeanMonetary System thirty years ago can shed light on theEurozone’s current crisis

The Euro’s roots can be traced back to the creation of the European Monetary System (EMS) in 1979. Emmanuel Mourlon-Druol argues that the negotiations that led to the establishment of the EMS can shed light on the current travails of the Eurozone, and that there are some striking similarities with recent Eurozone summits. Looking at the EMS negotiations now furthers our understanding of European integration and the evolution of the world monetary system.