The fate of the Delors Report
upon its presentation in April 1989 was far from certain despite the unprecedented exchange rate stability that the EMS currencies were enjoying and the implementation of the SEA.
(2) This 1996 report to UNESCO, often referred to as the Delors Report
, remains the touchstone of many progressive educators.
Turning from initiation to mediation, the Delors Report
, the blueprint for EMU issued by the Delors Committee under his chairmanship, is often seen as a personal triumph.
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 modest commitment to implement monetary cooperation in the preamble to the SEA, together with the formal recognition of the European Monetary System (EMS), and the European Currency Unit (ECU) in Article 102A was a mere precursor to the more determined "Delors Committee" which was established in 1988 to propose "concrete stages leading towards" economic and monetary union (EMU).(14) The Delors Report
on EMU was published in 1989 and set the stage for what was later to be incorporated in the TEU.
The Delors Report
(1989) provided further impetus towards monetary unification in Europe.
The EC has accepted the principles set out in the 1989 Delors Report
as its blueprint to move towards European Monetary Union (EMU).
In 1989, the Delors Report
set out a detailed plan for a federal European superstate.
On this question, the Delors Report
 emphasizes that a national government budget deficit in a monetary union should be bound by explicit rules.
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.
Although the timetable for EMU in the Werner Report proved to be wildly optimistic, the three-stage approach and many of the principles would be echoed by the Delors Report
nineteen years later and incorporated into the Maastricht Treaty.(45) More immediately, the Werner Report established a concrete agenda for exchange-rate cooperation and suggested among other things that European central banks should, on an experimental basis, tighten the range of fluctuation of their currencies against one another more narrowly than their ranges against the dollar would allow.(46) As the Bretton Woods regime unraveled, Europe implemented portions of the Werner plan.