Towards a New Economic Supranational Interdependence. 13 March 1979. The European Monetary System (EMS) Comes into Force

Italy’s entry into the European Monetary System (EMS) undoubtedly represents a case of ‘external constraint’, but with some peculiarities precipitated by differences between politics and technocracy and the breakdown within these two worlds. Membership of the EMS in fact proved not only to offer The Advantage of Tying One’s Hands, but in time took on the appearance of an almost legal constraint, orienting the country’s political choices in favour of increasingly stringent economic and monetary integration with Europe.