Book contents
- Trading Power
- Trading Power
- Copyright page
- Contents
- Figures
- Acknowledgments
- Abbreviations
- Introduction
- 1 The Unraveling of Adenauer’s Grand Strategy (1962–1963)
- 2 America’s Junior Partner (1963–1964)
- 3 Twenty Years After (1964–1965)
- 4 The Stability Imperative (1965–1966)
- 5 Gaullist Temptations (1966–1968)
- 6 The Magnetism of Prosperity (1967–1968)
- 7 A Decisive Election (1969)
- 8 The Zenith of Ostpolitik (1970)
- 9 The European Pendulum (1970–1972)
- 10 Hazards from the Global South (1970–1972)
- 11 The Embattled Chancellor (1971–1972)
- 12 The Center of Europe (1973)
- 13 The Crisis Management Team (1973–1974)
- 14 New Structures for the West (1974–1975)
- Conclusion
- Select Bibliography
- Index
12 - The Center of Europe (1973)
Published online by Cambridge University Press: 14 October 2022
- Trading Power
- Trading Power
- Copyright page
- Contents
- Figures
- Acknowledgments
- Abbreviations
- Introduction
- 1 The Unraveling of Adenauer’s Grand Strategy (1962–1963)
- 2 America’s Junior Partner (1963–1964)
- 3 Twenty Years After (1964–1965)
- 4 The Stability Imperative (1965–1966)
- 5 Gaullist Temptations (1966–1968)
- 6 The Magnetism of Prosperity (1967–1968)
- 7 A Decisive Election (1969)
- 8 The Zenith of Ostpolitik (1970)
- 9 The European Pendulum (1970–1972)
- 10 Hazards from the Global South (1970–1972)
- 11 The Embattled Chancellor (1971–1972)
- 12 The Center of Europe (1973)
- 13 The Crisis Management Team (1973–1974)
- 14 New Structures for the West (1974–1975)
- Conclusion
- Select Bibliography
- Index
Summary
Chapter 12 shows how the Federal Republic’s booming economy created new challenges and expectations. Currency crises wracked the West, leading to the final breakdown of the Bretton Woods order. Together with other leaders of the newly expanded EC of Nine, Brandt and finance minister Helmut Schmidt instituted a “joint float” of European currencies (excluding Britain, Ireland, and Italy). The Nixon administration tried to slow the EC’s momentum by proposing a “Year of Europe” that would cement U.S. leadership; Bonn was again caught between the United States and France, with both countries fearing that West Germany had become “Finlandized” as a result of its Ostpolitik. Brezhnev’s visit to Bonn, along demands raised by Yugoslavia, Poland, and Romania, showed that West German prosperity had raised expectations of financial generosity. Brandt’s Germany began to play a more visible role in Middle Eastern diplomacy, and in September East and West Germany were finally able to join the United Nations. The EC-9 undertook steps toward greater coordination of foreign policy, particularly at the UN, and Brandt insisted that West Germany was there to act as a European power.
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- Trading PowerWest Germany's Rise to Global Influence, 1963–1975, pp. 358 - 390Publisher: Cambridge University PressPrint publication year: 2022