1974-1984

Overcoming the crises

In the 1970s, Europe felt the full force of the international monetary crisis and the sharp oil price increases. Faced with severe economic difficulties, the Member States reacted in an uncoordinated manner. On several occasions, the unity of the Communities was called into question. But little by little, a concerted response to the crisis came into place, symbolised by the quarterly sessions of the European Council. In spite of this crisis, the Nine seemed determined to resume or intensify their political cooperation. But apart from renewed collaboration in the monetary field, the results were modest.