The Franco-German Relationship is Clinically Dead

The 1992 Treaty of Maastricht came two years after the unification of Germany and laid the groundwork for the 2002 introduction of the euro. The French elite was afraid for the resurgence of a new German powerhouse. To eliminate the dominant Deutschmark, they wanted to extend the use of the German currency to the whole European Common market and have it renamed to the euro. In 1992, Le Figaro wrote that the “Maastricht is the Treaty of Versailles without war”. A French observer noticed, “Maastricht is only a calculated move against the predominance of the Bundesbank and against an independent German currency.” Continue reading