The Heads of Government of the nine member nations of the European Economic Community (the Common Market) started a two-day meeting in Brussels, Belgium, on Monday (5 December) ...
The Heads of Government of the nine member nations of the European Economic Community (the Common Market) started a two-day meeting in Brussels, Belgium, on Monday (5 December) ... a session which had facing it a number of key issues.
SYNOPSIS: Money was the dominant issue... how much each member should give to -- and be given by -- the Common Market ... the financial implications of letting in another three countries ... and a common currency.
That is what these people were demonstrating for ... one currency for all nine member states so there would be no problems of balancing finances between them... and there would be one standard currency in which to pay all EEC dues.
Ambitious plans for currency and economic integration have been the major initiative taken by the Commission under Roy Jenkins' first year as President.
For the Heads of Government attending the summit there was another major issue .. the prospect of direct elections to the European Parliament. Those elections are scheduled for mid-1978...but members are having to face the fact that not every one of the nine states is ready for such elections. British Prime Minister James Callaghan, for example, was... ... faced with telling his colleague it was doubtful if Britain could meet the target date.
The first disagreement to come up before the session was over just how much who gives...and how much who gets. While some are insisting that others pay more into the Community ... others are demanding a larger slice of the Regional Development Fund, which channels money into backward regions. It has already been argued over for nine months.