OF OPTICA PROPOSALS
The latest several steps in the economic integration of the European Community have not been in a forward direction. Europe of the 1960s presents in retrospect a picture of stability and slowly progressing integration. It is ironic that the optimism that these experiences generated at the political level found expression only at the very end of the decade --at the Hague summit in December 1969--just before irresistible centrifugal forces began to eat away at its foundations. From the Hague summit and the elaboration of the concept of economic and monetary union in the so-called Werner plan of 1970 there is a remarkable descent to the present level of what is thought feasible. A few points will suffice to illustrate the main trend in economic policy coordination.
The major decisions of the Council of Ministers in March 1971 and March 1972 to establish firmer rules for exchange market interventions did not stick. The pound sterling and the lira have been floating individually and with increasingly dramatic movements since June 1972 and March 1973 respectively and the French franc since January 1974 (with an interruption during part of 1975-1976). The remaining snake____________________