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Europe's present challenge and future opportunity. Jean Monnet Lecture delivered by the Right Hon Roy Jenkins, President of the European Commission, Florence, 27 October 1977

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  • Economics
  • Political Science


EMBARGO: 18.00 JEAN MONNET LECTURE DELIVERED BY THE RIGHT HON .ROY JENKINS PRESIDENT OF THE CO~IMlSSION OF THE EUROPEAN COJ.I.1MUNITIES FLORENCE - THURSDAY 27 OCTOBER 1977 oooOOOooo .EUROPE'S PRESENT CHALLENGE AND FUTURE OPPORTUNITY I would like to devote this first Jean Monnet Lecture, in this twentieth anniversary y.ear of the Community, to a single major issue, but one which in its ramifications touches every aspect of European life. Th~ h'rd, central core af· the argument I shall develqp turns around the case for monetary union. This, of course,is a familiar, rather than a novel concept. Despite its familiarity, it is neither popular nor well understood. But even for those .for whom it is part of the normal landscape of economic theory and policy, what is very different compared to the last time the Community discussed the subject in any b~si~ w~y is th¢ state of the European and world economy, and th~ state of international monetary ·affairs. We n~ed ~lso to take a fresh view as to how monetary union should be allied with associated Community policies, and, ~~re'broadly, with the fundamental question as to how such .. ~.J). idea as monetary union fits with our view of the future division of functions between the Community and Member States. This choice of subject does n<.. ... .L"'P .. J ... 11arrow economic view of the Community's function. It derives from.the obvious fact that the most important weakness of the Community today is its central economic mechanism. Of course the Community has other /primary functionsJ primary functions. On the one hand it stands for a certain typo of democratic and political society wi~hin turo?e; on the other hand it stands as a viable political entity for dealing with a wide range of external relations. On these two fronts, much .remains to be done. But despite the shocks and di fficu 1 tics of the recent past, the outlook is one of activity and promise. We are engaged in underpinning our democra

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