Delors committee

Delors committee  link
Formation	June 1988
Interests	European monetary union
Membership	Frans Andriessen, Miguel Boyer, Demetrius Chalikias, Carlo Azeglio Ciampi, Maurice Doyle, Willem Duisenberg, Jean Godeaux, Erik Hoffmeyer, Pierre Jaans, Alexandre Lamfalussy, Jacques de Larosière, Robert Leigh-Pemberton, Karl Otto Pöhl, Mariano Rubio, José Tavares Moreira, Niels Thygesen
Bilderberg dominated committee to set up the Euro

Not to be confused with the Delors commission

The Delors committee was a Bilderberg-run project to advance the creation of European monetary union.

Activities

The report of the 1989 Bilderberg records that {{#subobject: |Has superobject=Delors committee |Has objectClass=Quotation |Has author=|+sep=, |Has text=“The Delors Committee took on the responsibility of studying and proposing concrete steps toward the objective of a progressive realization of monetary union of the member states of the E.C. Such a union is desirable because it will enable us to take advantage of all the potential of the single market, to deal with uncertainties of rates of exchange, and to reduce costs. The Delors Committee did not set out to do an academic study but to respond to the very precise terms of reference of the Council of Ministers. The definition of monetary union chosen by the committee was the definition of the Werner Report of 1970, which said that monetary union was characterized by the total convertibility of the currencies, by free movement of capital, and by certain exchange rates that are irreversibly fixed.” |Is about=Delors committee,Delors Committee, Monetary union, European Central Bank, Euro|+sep=, |Has wikipediaPage= |Has location=|+sep=, |Has publicationDate=1989 |Sourced from=File:Bilderberg-Conference-Report-1989.pdf |Has sourceDetails= |Has sourceTitle= |Has sourceName=File:Bilderberg-Conference-Report-1989.pdf |Has sourceURL=https://wikispooks.com/wiki/File:Bilderberg-Conference-Report-1989.pdf }}“The Delors Committee took on the responsibility of studying and proposing concrete steps toward the objective of a progressive realization of monetary union of the member states of the E.C. Such a union is desirable because it will enable us to take advantage of all the potential of the single market, to deal with uncertainties of rates of exchange, and to reduce costs. The Delors Committee did not set out to do an academic study but to respond to the very precise terms of reference of the Council of Ministers. The definition of monetary union chosen by the committee was the definition of the Werner Report of 1970, which said that monetary union was characterized by the total convertibility of the currencies, by free movement of capital, and by certain exchange rates that are irreversibly fixed.”

Bank of International Settlements

The Delors Committee did not meet in Brussels, the site of the European Commission, or Strasbourg, the home of the European Parliament, or Frankfurt. It set up shop in Basel. There it enjoyed its own dedicated support staff, supplied by the Bank of International Settlements (BIS). Delors Committee would frequently defer to Alexandre Lamfalussy's opinions, "all of which greatly annoyed European officials visiting from Brussels. They could not understand why the great European monetary integration project was being directed from a suite of rooms in a tower block by Basel central railway station", wrote Adam LeBor in the Tower of Basel.

Many of the Committee's most important members, such as Pöhl and Leigh-Pemberton, already came to Basel for the governors' meetings. There, at the Sunday evening G10 governors' dinner, the central bankers decided what Lamfalussy described as the "norms of cooperation," in circumstances as secretive as ever. "This was the dinner where we talked about the most difficult issues, with no notes or anything."

Committee also had two rapporteurs: Gunter Baer and Tommaso Padoa-Schioppa. The rapporteurs were immensely influential. They prepared the meetings, wrote reports, and "held the fountain pen," as Lamfalussy put it. "It was my officials that prepared the meetings in Basel of a project that was primarily European."

Bilderberg members

Most of the members of the commission were Bilderbergers:

• Carlo Ciampi - Bilderberg/1987
• Miguel Boyer Salvador - Bilderberg/1989
• Willem Duisenberg - Bilderberg/1977, Bilderberg/1979-Bilderberg/1983, Bilderberg/1986
• Erik Hoffmeyer - Bilderberg/1982
• Pierre Jaans - Bilderberg/1994
• Alexandre Lamfalussy - Bilderberg/1983, Bilderberg/1986, Bilderberg/1988, Bilderberg/1992
• Jacques de Larosière - Bilderberg/1982
• Karl Otto Pöhl - Bilderberg/1982, Bilderberg/1991
• Mariano Rubio - Bilderberg/1986
• Niels Thygesen - Bilderberg/1988

References