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to the website of the European Central Bank: '+location.protocol + '//' + location.host + location.pathname+((document.location.search.search(/\?youtubeID=[a-zA-Z0-9_-]+$/)!=-1&&document.location.search)||''))" title="Share by Email"></a></li> </ul> </div> </aside> <main >  <div class="title"> <h1>The Delors Committee (1988-89)</h1> </div> <div class="section"> <p>The Committee for the Study of Economic and Monetary Union, better known as the Delors Committee, was set up in June 1988. It was established under a European Council mandate to examine and propose concrete stages leading to European Economic and Monetary Union. The Committee was chaired by Jacques Delors, then President of the European Commission. Its members also included the governors of the central banks of the Member States of the European Economic Community plus a few other selected members. Among the latter was Alexandre Lamfalussy, then General Manager of the Bank for International Settlements and later first President of the European Monetary Institute.</p> <p>The Delors Committee submitted its report on “Economic and Monetary Union in the European Community” (the Delors Report) in April 1989. Among other things, the report suggested three stages for achieving Economic and Monetary Union and helped to advance the process of monetary and economic integration.</p> <p>The fonds of the Delors Committee consists of 1 linear metre of textual documents relating to the meetings of the Committee and the preparation the Delors Report. These are mainly in English or French and cover the period from September 1988 to October 1989. </p> <p>Explore the content</p> </div> <div class="accordion"> <div class="header"> <div class="title">DelC 1 Organisation</div> </div> <div class="content-box"> <p>This section contains records related to meeting organisation and other administrative matters.</p><h4>DelC 1.1 Meeting organisation</h4><p>This subsection contains meeting schedules, lists of participants, and a list of addresses of the members’ organisations, seating plans, and travel arrangements.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_1.1/index.en.html">Documents in this subsection</a> <h4>DelC 1.2 Lists of papers</h4><p>This subsection contains lists of: papers distributed and not distributed to the Committee, papers for specific meetings, as well as papers prepared or under preparation for the Committee.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_1.2/index.en.html">Documents in this subsection</a> <h4>DelC 1.3 Publication of final report</h4><p>This subsection contains records related to the publication of the final report, including correspondence, and a distribution list for the final report.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_1.3/index.en.html">Documents in this subsection</a> <h4>DelC 1.4 Letters of appreciation</h4><p>This subsection contains correspondence from N. Thygesen, J. Delors, and R. Leigh-Pemberton to G. Baer, thanking him for his services as the Committee’s rapporteur. It also contains a reply from G. Baer.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_1.4/index.en.html">Documents in this subsection</a> </div> <div class="header"> <div class="title">DelC 2 Meeting minutes, reports and transcripts</div> </div> <div class="content-box"> <p>This section contains minutes, reports and transcripts for each meeting.</p><h4>DelC 2.1 First meeting – 13 September 1988</h4><p>The topics discussed at the first meeting of the Delors Committee included: organisational matters (such as how to capture the discussions for future reference and whether to share them externally), the Werner Report, and the Committee’s working schedule.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_2.1/index.en.html">Documents in this subsection</a> <h4>DelC 2.2 Second meeting – 10 October 1988</h4><p>The topics discussed at the second meeting of the Delors Committee included: the characteristics and implications of an economic union consistent with a monetary union, in particular fixed exchange rates, policies and institutional arrangements. There was also a first discussion on the outline of the final report.</p><p>The meeting documentation explicitly mentions the following papers:</p><ul> <li>DelC 5.2 Regional Policy and European Economic Integration (M. F. Doyle)</li> <li>DelC 7.11 Questionnaire on Major Instruments and Policy Measures to be Applied in Connection with the Gradual Realisation of the Economic and Monetary Union (E. Hoffmeyer)</li> <li>DelC 7.15 The ECU in the Monetary Union Process (C. Ciampi)</li> <li>DelC 8.2 Budgetary and Macro-economic Aspects of Social Protection in the Community (L. Schubert)</li> </ul> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_2.2/index.en.html">Documents in this subsection</a> <h4>DelC 2.3 Third meeting – 8 November 1988</h4><p>The third meeting of the Delors committee focused on the first steps towards Economic and Monetary Union, emphasising institutional changes and whether Economic and Monetary Union would be possible without legal changes.</p><p>The meeting documentation explicitly mentions the following papers:</p><ul> <li>DelC 6.2 A European Central Banking System: Some Analytical and Operational Considerations (N. Thygesen)</li> <li>DelC 6.3 First Stages Towards the Creation of a European Reserve Bank: the Creation of a European Reserve Fund (J. de Larosière)</li> <li>DelC 6.5 The Working of the EMS: A Personal Assessment (J. Godeaux)</li> </ul> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_2.3/index.en.html">Documents in this subsection</a> <h4>DelC 2.4 Fourth meeting – 13 December 1988</h4><p>The fourth meeting of the Delors Committee was entirely focused on the skeleton of the final report.</p><p>J. de Larosière presented the following paper:</p><ul> <li>DelC 6.3 First Stages Towards the Creation of a European Reserve Bank: the Creation of a European Reserve Fund (J. de Larosière)</li> </ul> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_2.4/index.en.html">Documents in this subsection</a> <h4>DelC 2.5 Fifth meeting – 10 January 1989</h4><p>The topics discussed at the fifth meeting of the Delors Committee included: Chapter III of the final report (particularly the European Reserve Fund and the establishment of a new treaty), the ECU and organisational matters such as the role of the Committee.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_2.5/index.en.html">Documents in this subsection</a> <h4>DelC 2.6 Sixth meeting – 14 February 1989</h4><p>The sixth meeting of the Delors Committee focused on the skeleton outline of the final report. Particular topics included: an operational framework of monetary union, its objectives, the ECU, the definition of economic union, common policies, regional differences, and the role, mandate, functions and structure of the institution that could be created to implement Economic and Monetary Union.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_2.6/index.en.html">Documents in this subsection</a> <h4>DelC 2.7 Seventh meeting – 14 March 1989</h4><p>The seventh meeting of the Delors Committee focused on the skeleton outline of the final report. Specific topics included treaty changes, policies, the relationship with politics, the objectives of and practical steps towards Economic and Monetary Union, and the ECU.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_2.7/index.en.html">Documents in this subsection</a> <h4>DelC 2.8 Eighth meeting – 11 and 12 April 1989</h4><p>The eighth meeting of the Delors Committee focused on finalising the report. Particular topics included legal requirements, treaty changes, the relationship with politics, practical steps towards Economic and Monetary Union and the time frame for implementation of Economic and Monetary Union.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_2.8/index.en.html">Documents in this subsection</a> <h4>DelC 2.9 Informal meetings</h4><p>This subsection contains notes taken during informal meetings between members of the Delors Committee. The dates of the documents range from 19 July 1988 to 23 March 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_2.9/index.en.html">Documents in this subsection</a> </div> <div class="header"> <div class="title">DelC 3 Report on Economic and Monetary Union in the European Community</div> </div> <div class="content-box"> <p>This section contains the report issued by the Committee and entitled “Report on Economic and Monetary Union in the European Community”, also known as the Delors Report, and its drafts.</p><h4>DelC 3 Report on Economic and Monetary Union in the European Community</h4><p>The dates of the drafts of the Report and comments by the Committee range from 22 July 1988 to 12 April 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_3/index.en.html">Documents in this subsection</a> </div> <div class="header"> <div class="title">DelC 4 Collection of papers submitted to the Committee – introductory note</div> </div> <div class="content-box"> <p>This section contains the introduction to the “Collection of Papers”. It contains the introductory note, the table of contents, and the report entitled “The Werner Report Revisited”, as per the table of contents. The subsections contain the various drafts and comments for each paper.</p><h4>DelC 4.1 Introduction and table of contents</h4><p>The dates of the drafts and comments on the introductory note and table of contents of the “Collection of Papers” range from 30 March to 14 July 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_4.1/index.en.html">Documents in this subsection</a> <h4>DelC 4.2 The Werner Report revisited (G. Baer, T. Padoa-Schioppa)</h4><p>The dates of the drafts and comments on this paper range from 14 July 1988 to 1 September 1989.</p><p>This paper is explicitly mentioned in the documentation of the first meeting.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_4.2/index.en.html">Documents in this subsection</a> </div> <div class="header"> <div class="title">DelC 5 Collection of papers submitted to the Committee – papers relating to economic union</div> </div> <div class="content-box"> <p>This section corresponds to the “Collection of Papers” relating to the category economic union, as per the table of contents. The subsections contain the various drafts and comments for each paper.</p><h4>DelC 5.1 Economic and Monetary Union and Relaunching the Construction of Europe (J. Delors) </h4><p>The dates of the drafts and comments for this paper range from 26 to 30 September 1988.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_5.1/index.en.html">Documents in this subsection</a> <h4>DelC 5.2 Regional Policy and European Economic Integration (M. Doyle)</h4><p>The drafts and comments on this paper bear no date.</p><p>This paper is explicitly mentioned in the documentation of the second meeting.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_5.2/index.en.html">Documents in this subsection</a> <h4>DelC 5.3 Regional Implications of Economic and Monetary Integration (J. Delors)</h4><p>The dates of the drafts and comments on this paper range from 25 to 30 January 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_5.3/index.en.html">Documents in this subsection</a> <h4>DelC 5.4 Macro-Coordination of Fiscal Policies in a European Economic and Monetary Union (A. Lamfalussy)</h4><p>The dates of the drafts and comments on this paper range from 27 October 1988 to 6 July 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_5.4/index.en.html">Documents in this subsection</a> </div> <div class="header"> <div class="title">DelC 6 Collection of papers submitted to the Committee – papers relating to monetary union</div> </div> <div class="content-box"> <p>This section corresponds to the “Collection of Papers” relating to the monetary union category, as per the table of contents. Each subsection contains the various drafts and comments on the same paper.</p><h4>DelC 6.1 The Further Development of the European Monetary System (K.O. Pöhl)</h4><p>The dates of the drafts and comments on this paper range from 7 October 1988 to 6 July 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_6.1/index.en.html">Documents in this subsection</a> <h4>DelC 6.2 A European Central Banking System: Some Analytical and Operational Considerations (N. Thygesen)</h4><p>The only available version of this paper is the final version, dated June 1989.</p><p>This paper is explicitly mentioned in the documentation of the third meeting.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_6.2/index.en.html">Documents in this subsection</a> <h4>DelC 6.3 First Stages Towards the Creation of a European Reserve Bank: the Creation of a European Reserve Fund (J. de Larosière)</h4><p>The dates of the drafts and comments on this paper range from 28 October to 6 December 1988.</p><p>This paper is explicitly mentioned in the documentation of the third and fourth meetings.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_6.3/index.en.html">Documents in this subsection</a> <h4>DelC 6.4 The ECU as a Parallel Currency (W. Duisenberg) </h4><p>The dates of the drafts and comments on this paper range from 30 October to 29 November 1988.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_6.4/index.en.html">Documents in this subsection</a> <h4>DelC 6.5 The Working of the EMS: a Personal Assessment (J. Godeaux) </h4><p>The dates of the drafts and comments on this paper range from 2 November 1988 to 11 April 1989.</p><p>This paper is explicitly mentioned in the documentation of the third meeting.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_6.5/index.en.html">Documents in this subsection</a> <h4>DelC 6.6 The ECU Banking Market (A. Lamfalussy)</h4><p>The drafts and comments to this paper are from 1 December 1988.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_6.6/index.en.html">Documents in this subsection</a> <h4>DelC 6.7 The ECU, the Common Currency and the Monetary Union (G. Baer, T. Padoa-Schioppa)</h4><p>The dates of the drafts and comments on this paper range from 4 January to 10 July 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_6.7/index.en.html">Documents in this subsection</a> <h4>DelC 6.8 A Proposal for Stage Two Under Which Monetary Policy Operations Would Be Centralised in a Jointly-owned Subsidiary (A. Lamfalussy)</h4><p>The dates of the drafts and comments on this paper range from 30 January to 23 May 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_6.8/index.en.html">Documents in this subsection</a> <h4>DelC 6.9 The Basic Difference Between the Frameworks for Policy Decision-making Provided by the EMS and EMU (P. Jaans)</h4><p>The only available version of this paper bears no date.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_6.9/index.en.html">Documents in this subsection</a> <h4>DelC 6.10 An Operational Framework for an Integrated Monetary Policy in Europe (C. Ciampi)</h4><p>The only available version of this paper is from April 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_6.10/index.en.html">Documents in this subsection</a> </div> <div class="header"> <div class="title">DelC 7 Supporting papers - by Committee members</div> </div> <div class="content-box"> <p>This section contains papers that were submitted to the Committee but which are not in the “Collection of Papers”. It contains papers submitted by members of the Committee. The subsections contain the various drafts and comments for each paper.</p><h4>DelC 7.1 A European Central Banking System: Some Institutional Considerations (N. Thygesen)</h4><p>The drafts and comments on this paper are from 26 October 1988.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_7.1/index.en.html">Documents in this subsection</a> <h4>DelC 7.2 Economic and Monetary Union: the Main Issues (G. Baer, T. Padoa-Schioppa)</h4><p>The dates of the drafts and comments on this paper range from 18 August to 1 September 1988.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_7.2/index.en.html">Documents in this subsection</a> <h4>DelC 7.3 Economic Union: Implications of a Monetary Union (G. Baer, T. Padoa-Schioppa)</h4><p>The dates of the drafts and comments on this paper range from 16 September to 4 October 1988.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_7.3/index.en.html">Documents in this subsection</a> <h4>DelC 7.4 Features of a European Central Bank Statute (K.O. Pöhl)</h4> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_7.4/index.en.html">Documents in this subsection</a> <p> The date of the comments to this paper is 6 January 1989. </p><h4>DelC 7.5 Monetary Union and a European System of Central Banks (G. Baer, T. Padoa-Schioppa)</h4><p>The dates of the drafts and comments on this paper range from 21 to 31 October 1988.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_7.5/index.en.html">Documents in this subsection</a> <h4>DelC 7.6 Objectives and Instruments of Monetary Policy at an Advanced Stage of Integration (N. Thygesen)</h4><p>The only available version of this paper is from 31 January 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_7.6/index.en.html">Documents in this subsection</a> <h4>DelC 7.7 Outline of Problems Connected with a European Economic Union (K.O. Pöhl)</h4><p>The dates of the drafts and comments on this paper range from 9 September to 6 October 1988.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_7.7/index.en.html">Documents in this subsection</a> <h4>DelC 7.8 Overcoming the Limits of Coordination in Conducting a Common Monetary Policy (C. Ciampi)</h4><p>The drafts and comments on this paper are from 8 February 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_7.8/index.en.html">Documents in this subsection</a> <h4>DelC 7.9 Propositions relating to the ECU (Delors Committee)</h4><p>The drafts and comments on this paper are from 27 and 31 January 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_7.9/index.en.html">Documents in this subsection</a> <h4>DelC 7.10 Quelques Réflexions sur les Missions et les Compétences du Centre de Décision de Politique Économique (J. Mingasson)</h4><p>The drafts and comments on this paper are either from 14 October 1988, or bear no date.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_7.10/index.en.html">Documents in this subsection</a> <h4>DelC 7.11 Questionnaire on Major Instruments and Policy Measures to be Applied in Connection with the Gradual Realisation of the Economic and Monetary Union (E. Hoffmeyer)</h4><p>The dates of the drafts, comments and replies to the questionnaire range from 11 October 1988 to 10 February 1989.</p><p>This paper is explicitly mentioned in the documentation of the second meeting.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_7.11/index.en.html">Documents in this subsection</a> <h4>DelC 7.12 Questions and Answers on the ECU and European Monetary Union</h4><p>The dates of the drafts and comments on this paper range from 20 January to 12 April 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_7.12/index.en.html">Documents in this subsection</a> <h4>DelC 7.13 Regional Balancing Mechanisms in Economic and Monetary Unions (M. Emerson)</h4><p>The only available version of this paper is from 1 November 1988. </p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_7.13/index.en.html">Documents in this subsection</a> <h4>DelC 7.14 The Ciampi/Thygesen Scheme</h4><p>The only available version of this paper is from 10 March 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_7.14/index.en.html">Documents in this subsection</a> <h4>DelC 7.15 The ECU in the Monetary Union Process (C. Ciampi)</h4><p>The drafts and comments on this paper are either from 7 January 1989 or bear no date. </p><p>This paper is explicitly mentioned in the documentation of the second meeting.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_7.15/index.en.html">Documents in this subsection</a> <h4>DelC 7.16 The Legal Status of the Bank of Spain (M. Rubio)</h4><p>The drafts and comments on this paper bear no date.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_7.16/index.en.html">Documents in this subsection</a> </div> <div class="header"> <div class="title">DelC 8 Supporting papers - by others</div> </div> <div class="content-box"> <p>This section contains papers that were submitted to the Committee but which are not in the “Collection of Papers”. It contains papers submitted by persons or organisations external to the Committee. The subsections contain the various drafts and comments on each paper.</p><h4>DelC 8.1 Alternative Paradigms for Monetary Union (D. Gros)</h4><p>The dates of the drafts and comments on this paper range from 10 October to 21 November 1988.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_8.1/index.en.html">Documents in this subsection</a> <h4>DelC 8.2 Budgetary and Macro-economic Aspects of Social Protection in the Community (L. Schubert)</h4><p>The only available version of this paper is from 25 January 1989.</p><p>This paper is explicitly mentioned in the documentation of the second meeting.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_8.2/index.en.html">Documents in this subsection</a> <h4>DelC 8.3 Considerations on the Costs and Benefits of Economic and Monetary Union</h4><p>The dates of the draft and comments on this paper range from 24 January to 20 February 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_8.3/index.en.html">Documents in this subsection</a> <h4>DelC 8.4 Le Marché Intérieur et la Coopération Monétaire (Ministry of Economy, Denmark)</h4><p>The only available version of this paper is from 9 November 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_8.4/index.en.html">Documents in this subsection</a> <h4>DelC 8.5 L'Efficacité Économique des Politiques Régionales (J. Drevet)</h4><p>The draft and comments on this paper are either from December 1988, or bear no date.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_8.5/index.en.html">Documents in this subsection</a> <h4>DelC 8.6 Les Rapports de la Banque de France et de l’État au Regard de la Loi</h4><p>The only available version of this paper is from 22 December 1988.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_8.6/index.en.html">Documents in this subsection</a> <h4>DelC 8.7 Les Politiques Régionales dans le Mouvement vers l'Union Économique et Monétaire (Groupe Lacroix)</h4><p>The only available version of this paper is from 23 January 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_8.7/index.en.html">Documents in this subsection</a> <h4>DelC 8.8 Loi Organique Communautaire (C. Ehlermann)</h4><p>The only available version of this paper is from 14 November 1988.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_8.8/index.en.html">Documents in this subsection</a> <h4>DelC 8.9 Mise en Application Graduelle des Dispositions d'un Traité sur l'UEM (C. Ehlermann)</h4><p>The only available version of this paper is from 14 November 1988.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_8.9/index.en.html">Documents in this subsection</a> <h4>DelC 8.10 Monetary Policy and Financial Integration: Consequences of 1992</h4><p>The draft and comments on this paper bear no date.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_8.10/index.en.html">Documents in this subsection</a> <h4>DelC 8.11 Note sur la Politique Régionale (J. van Ginderachter)</h4><p>The only available version of this paper is from 31 October 1988.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_8.11/index.en.html">Documents in this subsection</a> <h4>DelC 8.12 Regional Policy within a Monetary Union: a Case Study of Strathclyde (University of Strathclyde)</h4><p>The drafts and comments on this paper are from 16 and 21 December 1988. </p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_8.12/index.en.html">Documents in this subsection</a> <h4>DelC 8.13 Some Technical Considerations on the Benefits of an Economic and Monetary Union (D. Gros, A. Jacquemin, M. Catinat)</h4><p>The draft and comments on this paper are from 18 January 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_8.13/index.en.html">Documents in this subsection</a> <h4>DelC 8.14 The All Saints' Day Manifesto for European Monetary Union (The Economist)</h4><p>This photocopy of an article bear no date.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_8.14/index.en.html">Documents in this subsection</a> <h4>DelC 8.15 The Distribution of Economic Policy Powers in the Public Finances of Federal Economic and Monetary Union</h4><p>The only available version of this document is from 19 December 1988.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_8.15/index.en.html">Documents in this subsection</a> <h4>DelC 8.16 The European Monetary System and its Interactions with Economic and Monetary Policies: Lessons for Future Progress Towards European Monetary Union</h4><p>The draft and comments on this paper are from 7 November 1988.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_8.16/index.en.html">Documents in this subsection</a> <h4>DelC 8.17 The Federal Reserve System: Origins and Development (P. van den Bergh)</h4><p>The only available version of this document is from 23 October 1988.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_8.17/index.en.html">Documents in this subsection</a> <h4>DelC 8.18 The Legal Relationship Between the Central Bank and the Political Authorities in Denmark</h4><p>The only available version of this document is from 3 January 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_8.18/index.en.html">Documents in this subsection</a> <h4>DelC 8.19 The National Bank of Denmark: Act, By-laws, etc.</h4><p>This subsection contains the publication “The National Bank of Denmark: Act, By-laws, etc.”(1937).</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_8.19/index.en.html">Documents in this subsection</a> <h4>DelC 8.20 The Flaw in Europe's Tax Strategy (The Wall Street Journal)</h4><p>This subsection contains a photocopy of a page of The Wall Street Journal of 30 March 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_8.20/index.en.html">Documents in this subsection</a> </div> <div class="header"> <div class="title">DelC 9 External communication</div> </div> <div class="content-box"> <p>This section contains correspondence with entities outside the Delors Committee and speeches given at external events by the members of the Committee on their work. It contains requests for information or for copies of the final report, and corresponding replies. It does not contain supporting papers or any correspondence relating to them.</p><h4>DelC 9 External communication</h4><p>The dates of the external correspondence and speeches range from 15 November 1988 to 18 November 1989.</p> <a href="/ecb/history-arts-culture/archives/delors/documents/delc_9/index.en.html">Documents in this subsection</a> </div> </div> <div class="in-this-section" id="pages-in-section-holder"> <h3>All pages in this section</h3> <div class="content-box"> </div> </div> </main> </div> <div id="feedback" class="hidden"> <div class="content-box"> <div class="initial"> <div class="title">Are you happy with this page?</div> <a class="button -inverted-color" id="feedback-yes">Yes</a> <a class="button -inverted-color" id="feedback-no">No</a> </div> <div class="second hidden"> <div class="title">What made you unhappy?</div> <a class="button -inverted-color" id="feedback-broken">Page not working</a> <a class="button -inverted-color" id="feedback-content">Information not useful</a> <a class="button -inverted-color" id="feedback-design">Design not attractive</a> <a class="button -inverted-color" id="feedback-other">Something else</a> </div> <div class="final hidden"> <div class="title">Thank you for letting us know!</div> </div> </div> </div> <footer id="ecb-doc-footer"> <div class="ecb-footerTop"> <div class="sitemap"> <a href="/home/sitedir/html/index.en.html" title="Site Directory">Site directory</a> </div> <div class="socialLinks"> <a class="inline-link" href="/home/socialmedia/html/index.en.html" title="Official social media channels">FOLLOW US</a> <a href="http://twitter.com/ecb" class="twitter" title="X"></a> <a href="https://www.linkedin.com/company/european-central-bank" class="linkedin" title="LinkedIn"></a> <a href="https://www.instagram.com/europeancentralbank/" class="instagram" title="Instagram"></a> <a href="https://www.youtube.com/user/ecbeuro" class="youtube" title="YouTube"></a> <a href="https://www.flickr.com/photos/europeancentralbank/sets/" class="flickr" title="Flickr"></a> <a href="https://soundcloud.com/europeancentralbank" class="soundcloud" title="Soundcloud"></a> <a href="/rss" class="rss" title="RSS news feeds"></a> </div> </div><div class="ecb-footerBottom"> <p><span>Copyright 2024, </span>European Central Bank</p> <div class="ecb-serviceNavigation"> <div class="ecb-serviceNavigationBox"> <div class="ecb-serviceNavigationBoxTitle">Useful links</div> <div class="ecb-serviceNavigationBoxLinks"> <ul> <li><a href="/careers/vacancies/html/index.en.html">Work with us</a></li> <li><a href="/services/glossary/html/index.en.html">Glossary</a></li> <li><a href="/services/links/html/index.en.html">Other institutions</a></li> </ul> </div> </div> <div class="ecb-serviceNavigationBox"> <div class="ecb-serviceNavigationBoxTitle">Using our site</div> <div class="ecb-serviceNavigationBoxLinks"> <ul> <li><a href="/services/disclaimer/html/index.en.html">Disclaimer & Copyright</a></li> <li><a href="/services/data-protection/privacy-statements/website/html/index.en.html">Privacy statement</a></li> <li><a href="/services/languagepolicy/html/index.en.html">Language policy</a></li> <li><a href="/services/using-our-site/technical-updates/html/index.en.html">Technical updates to this site</a></li> </ul> </div> </div> <div class="ecb-serviceNavigationBox"> <div class="ecb-serviceNavigationBoxTitle">Corporate Policies</div> <div class="ecb-serviceNavigationBoxLinks"> <ul> <li><a href="/services/data-protection/html/index.en.html">Data Protection</a></li> <li><a href="/ecb/access_to_documents/html/index.en.html">Access to documents</a></li> <li><a href="/services/responsible-disclosure/html/index.en.html">Responsible disclosure</a></li> </ul> </div> </div> <div class="ecb-serviceNavigationBox"> <div class="ecb-serviceNavigationBoxTitle">Contact</div> <div class="ecb-serviceNavigationBoxLinks"> <ul> <li><a href="/ecb/contacts/html/index.en.html">Contacts</a></li> <li><a href="/services/contacts/address/html/index.en.html">Address</a></li> <li><a href="/services/contacts/working-hours/html/index.en.html">Public holidays</a></li> </ul> </div> </div> </div> </div>  </footer> <style> [data-count]{ position: relative; 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