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Erez Aiden, Jean-Baptiste Michel, and Coyle Diane

This chapter discusses the story of European integration in what is known as the European Union. The decision in 1951 by six European nations to pool coal and steel production under a common authority—the European Coal and Steel Community—marked the beginning of European integration. French statesman and political visionary Robert Schuman proposed the coal and steel community in 1950. The chapter also highlights that the 28-member European Union, built around common policies and shared institutions, has proved robust to many challenges and has accommodated great change used by 18 countries. The European Union was also awarded the 2012 Nobel Peace Prize. The study shows that the 2008 global financial crisis laid bare fault lines, exposing tensions between EU members and stresses and gaps in institutions and policies that Europe’s political leaders are working hard to address. The IMF’s chief for Europe argues that what Europe needs is more integration, not less.

International Monetary Fund. Communications Department


Address at the Bank of England Twentieth Anniversary Conference London, U.K. September 29, 2017 International Monetary Fund Managing Director Christine Lagarde delivered this address at the Bank of England conference, “Independence—20 Years On” in London, U.K., on September 29, 2017.

Melinda Weir

ONE MONDAY LAST July, Bank of England Governor Mark Carney strode onto the stage at the Science and Industry Museum in Manchester to reveal the next face of the United Kingdom’s £50 note, one that the bank had earmarked for science.

International Monetary Fund. External Relations Dept.

Emphasizing their determination “to make globalization work for all our citizens and especially the world’s poor,” the leaders of the Group of Eight stressed on July 22 that the surest way to address the fundamental aspirations of the poorest countries was to draw them more fully into the global economy. The summit meeting in Genoa, Italy, took place following three days of extensive and often violent street demonstrations by antiglobalization militants.

International Monetary Fund. External Relations Dept.

Following are edited excerpts of the communiqué issued by the ministers of the Intergovernmental Group of 24 on International Monetary Affairs (the Group of 24) in Washington, D.C., on September 25. The full text of the communiqué is available on the IMF’s website: "

International Monetary Fund. Research Dept.
It has been two years since the trade tensions erupted and not only captured policymakers’ but also the research community’s attention. Research has quickly zoomed in on understanding trade war rhetoric, tariff implementation, and economic impacts. The first article in the December 2019 issue sheds light on the consequences of the recent trade barriers.