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1.1 Economic Integration

Already while the Second World War 44 nations signed the contract of Bratton Woods, which should guarantee a stable currency system with fixed exchange rate. Later the "Werner Group", which was a group of experts and led by the Luxembour-gian Prime Minister Pierre Werner, had the idea of a European currency. However the idea was too early. First the contract of Bratton Woods had to get in trouble in order to make something going on.

Since the collapse of Bratton Woods in 1971, the gap between normal states and economic powers grew always faster and faster. Soon the first countries crystallized from the rest, which would be the economic superpowers. Since none of the Euro-pean countries was big enough to keep up with economic powers like the United States in a long term view, unity between the different states of Europe became more and more important. If Europe wanted to show that it could be an independent global player, it had to bundle up its......

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Approximate Word Count: 2926
Approximate Pages: 12 (250 words per double-spaced page)

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