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| Title |
Completion
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| Document type |
Synopsis
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| Source |
European NAvigator. Étienne Deschamps. Translated by the CVCE.
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| Keywords |
common agricultural policy, currency adjustment, further development of the Community, Hague Summit
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| Copyright |
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| Caption |
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| Location in the digital library |
HISTORICAL EVENTS >> 1969–1979 Crises and revival >> The Hague Summit >> Completion
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| Document extract |
Completion
During the Hague Summit in December 1969, the Six agreed that the European Economic Community’s 12-year transitional phase was drawing to a successful close and that it was now time to move on to the final phase. Although the Customs Union and the common agricultural policy (CAP) were already functioning and furnishing proof of the effectiveness of the Common Market, there were still outstanding issues to be solved. In particular, there were problems with the financing of the common agricultural policy, which accounted for the bulk of the Community’s budget. On this issue, the Heads of State or Government agreed at The Hague to replace, over time, the financial contributions of the Member States by the Community’s own resources. The difference in each country’s policy towards economic and monetary affairs provided another cause for concern. In 1968, France was under strong inflationary pressure, and the French franc was devalued on 10 August 1969. On 24 October, the Deutschmark was revalued. As a result of these difficulties, the participants at the Summit decided to draw up a plan for the stage-by-stage establishment of a European Economic and Monetary Union.
Read more in ENA |
| See also |
Cartoon by Low on France’s position on the common agricultural policy (3 January 1962)
Cartoon by Behrendt on overproduction within the CAP (1986)
Cartoon by Hanel on the difficulties involved in reforming the CAP (1981)
Cartoon by Murschetz on the Hague Summit (2 December 1969)
Booklet by the British National Farmers' Union (July 1971)
Demonstrations during the Agriculture Council (15 February 1971)
Cartoon by Behrendt on the French and German positions on the CAP (December 1963)
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