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Tommaso Padoa-Schioppa and the origins of the euro

Author

Listed:
  • Ivo Maes

    (National Bank of Belgium, Research Department
    Université catholique de Louvain, Robert Triffin Chair
    HUB
    ICHEC Brussels Management School)

Abstract

Tommaso Padoa-Schioppa was one of the great architects of the euro. He is remembered in particular as co-rapporteur for the Delors Committee and as a founding member of the European Central Bank's Executive Board. For Padoa-Schioppa, becoming Director-General of the European Commission's DG II (from 1979 to 1983), was a defining moment in his career and life. This period is the main focus of this paper. At the Commission, Padoa-Schioppa's main priority was the European Monetary System, which was launched in March 1979. He was closely involved in several projects to strengthen the EMS, to improve economic policy convergence and the position of the ECU. The other main objective for Padoa-Schioppa was the strengthening of DG II's analytical capacity, especially its model-building capacity and its links with the academic world. As such, he played a crucial role in the professionalisation of economics at the Commission and in preparing DG II for the important role it would play in the EMU process. At the Commission, Padoa-Schioppa became also immersed in several European networks. Of crucial importance here were his contacts with Jacques Delors. This would be of major importance for his further career, becoming one of the architects of the single currency.

Suggested Citation

  • Ivo Maes, 2012. "Tommaso Padoa-Schioppa and the origins of the euro," Working Paper Document 222, National Bank of Belgium.
    • Handle: RePEc:nbb:docwpp:201203-222
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    File URL: https://www.nbb.be/doc/ts/publications/wp/wp222en.pdf
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    References listed on IDEAS

    as
    1. Ivo Maes, 2002. "Economic Thought and the Making of European Monetary Union," Books, Edward Elgar Publishing, number 2515.
    2. Backhouse, Roger E. & Salanti, Andrea (ed.), 2000. "Volume 2: Keynesian Economics, Unemployment, and Policy," OUP Catalogue, Oxford University Press, number 9780199242054.
    3. Pierre Rosanvallon, 1987. "Histoire des idées keynésiennes en France," Revue Française d'Économie, Programme National Persée, vol. 2(4), pages 22-56.
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    2. Acosta, Juan & Rancan, Antonella & Sergi, Francesco, 2023. "Multi-country modelling at the commission of the European communities: Centralised and decentralised approaches," European Economic Review, Elsevier, vol. 158(C).

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    More about this item

    Keywords

    Padoa-Schioppa; Euro; EMS; EMU; Economic governance; European Commission;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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