Den tidligere regeringschef i Luxembourg, Pierre Werner, redegjorde allerede i 1969 (i den såkaldte Werner-beretning) for de grundelementer, der i dag danner grundlaget for den fælles valuta.
As early as 1969 the then head of the Luxembourg government, Pierre Werner, set out the fundamental concepts for a single currency - in the so-called "Werner Report' - which today form the basis for monetary union.