Twenty-one years have elapsed since the presentation of the Delors Report
in April 1989 and 11 years since the establishment of the European Monetary Union (FMU) on 1 January 1999.
The report, called the Delors report
, identified four pillars of education for the future: learning to know, learning to do, learning to live together (and with others), and learning to be.
The remarkable stability of the system in its initial years encouraged acceptance of the Delors report
in 1989 and the signing of the Maastricht treaty in 1991.
This question is addressed in the MacDougall Report (1977), the Delors Report
(1989), and the Maastricht Treaty (1991).
The Delors Report
(1989) provided further impetus towards monetary unification in Europe.
In 1989, the Delors Report
set out a detailed plan for a federal European superstate.
For example, such issues included in the past the British budgetary problem, finally settled at the 1984 European Summit, and the decision to go ahead with stage one of the Delors Report
on European Monetary Unification at the 1989 Summit.
The Delors Report
, in my view, thus gave most of the arguments for a much larger Community budget to sustain monetary union.
The Delors report
on monetary union in Europe has enlivened the debate on European monetary integration.
In the August issue of the REVIEW we commented on the proposals for European economic and monetary union set out in the Delors Report
The proposals in the Delors Report
are more radical than any change in the conduct of macroeconomic policy since the war.
Such steps would wait for what the Delors report
calls `Stage Three' of monetary and fiscal integration and in narrow economic terms is unlikely to be necessary or even desirable until well into the next century.