European Monetary Integration and International Monetary Reform

I.e., the crisis of January-February 1973.

The mark was last revalued on June 29, 1973, after an initial revaluation in March of the same year.

I.e., the GATT negotiations concerned with the further reduction of industrial tariffs among member countries, as well as with the gradual elimination of the so-called " non-tariff barriers " (quotas, sanitary regulations, etc.). These negotiations, the " Nixon Round " as they have become known, were given a start in Tokyo, in September 1973, and are expected to continue at the expert level, in Geneva, until 1975 or 1976.

This committee of twenty members, evenly divided between representatives from advanced capitalist countries and less developed countries, was entrusted by the International Monetary Fund (IMF), after its 1972 annual meeting, with the task of preparing a draft of a reformed International Monetary System. This report was subsequently presented by the Committee's Chairman, Mr. Jeremy Morse (United Kingdom), at the recent IMF annual meeting in Nairobi.