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Fourth Report on the Activities of the Monetary Committee. 23 March 1962

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  • Economics


EUROPEAN ECONOMIC COMMUNITY FOURTH REPORT ON THE ACTIVITIES OF THE MONETARY COMMITTEE Blank pages not reproduced: 2, 4, 6, 30 Brussels , 23 March 1962 CONTENTS Introduction Chapter I: General activities of the Monetary Committee in the field of the co-ordination of monetary policies Chopter II: Special activities of the Monetary Committee in 1961 Section I Internadonalliquidity and the world system of payments Section /I: The instruments of monetary and financial policy Section III: Liberalization of capital movements Chopter III: The internal and external position of the Member States in 1961 Secticn I General Section II: The position in the individual countdes and the malO findings of the Monetary Committee Section III : Outlook Annexes INTRODUCTION This Annual Report gives a general picture of thel activities of the Mone tary Committee of the Euroflean Economic Community in 1961. The Monetary Committee was set up by Article 105 (2) of the Treaty establishing the European Economic Com- munity in order to promote the co-ordination of the policies of Member States in monetary matters to the extent neces- sary for the functioning of the Common Market. In 1961 the Committee held seven sessions under the chairmanship of Jonkheer E. van Lennep. The Deputy Chairmen of the Committee are M. P. Calvet and M. O. Emminger. The list of Committee members is attached as an annex to this Report. Chapter I GENERAL ACTIVITIES OF THE MONETARY COMMITTEE IN THE FIELD OF THE CO-ORDINATION OF MONETARY POLICIES 1. On 14 January 1962 the Council of the European Economic Community officially confirmed that the essenCe of the objectives laid down in the Treaty of Rome for the first stage of the transition period had in fact been achieved. The move from the first to the second stage which has thus become a matter of his- tory, provides an occasion to review the lessons learnt in four years of co- ordinating the monetary policies of the Member States , the chief act

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