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Abandoning the EMS

By the mid 1980s the exchange rate crises forced President François Mitterrand to deal with the growing problems. Faced with the continued slide of the Franc would force France to leave the European Monetary System. President Mitterrand would go on to announce budget cuts to bolster the exchange rate in March 1983. Mitterrand also opted for European integration. This decision and its subsequent affirmation when France supported the Single European Act of 1986 set the stage for much of what was to follow.The government embraced the opening of French markets to more intense European competition and further political integration into what was to become the European Union.
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This entry was posted on Monday, April 27th, 2009 at 6:17 am and is filed under Social politics part 5. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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