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106Maria Eleonora Guasconimonetary union with fixed exchange rates, whose aim was to make Europeindependent from the dollar's instability, for its negative consequences in therelations with the United States and for the weakness of the Italian structuralsystem. 24 Carli did not oppose the EMU project, but the attempt to use it as aninstrument of European «monetary self-sufficiency», as for him «Europe'sstrengthening should be realised without breaking the ties with the UnitedStates». 25In 1968, Jean Monnet asked Carli to work out a blueprint of the future EMU.His project, outlining a transitory evolution towards a system of fixed parities,proposed to link the European currencies through a series of ‘crawling pegs’ inorder to facilitate the admission of the pound sterling into the EC. The project wascarefully analysed and then rejected by Monnet, who preferred the establishment ofa European Reserve Fund, according to a plan worked out by Robert Triffin andsupported by the German chancellor Willy Brandt. 26 The Italian monetaryapproach would gradually change in 1969, as a consequence of the pressures on thelira provoked by international monetary disturbances, the strengthening of theItalian trade unions' political leverage after the violent protests which had takenplace in autumn, the industrial salaries' growth and a continuous capital drain. 27Emilio Colombo, minister of the Treasury, adopted a softer approach than theBank of Italy, which he defined «pragmatic, seeking a gradual solution forproblems affecting the member countries' economies». 28 He supported theestablishment of a fixed parities system, proposed by the Plan Barre, but expressedthe government’s fears of the regional and international consequences of the EMUand stressed the need for the Six to coordinate their economies before achieving the24. See E. APEL, European Monetary Integration 1958-2002, Routledge, London-New York, 1998;H. JAMES, International Monetary Cooperation since Bretton Woods, Oxford University Press,New York-Oxford, 1996; L. SEGRETO, L'Italie et le Plan Werner, in: COMITÉ POUR L’HIS-TOIRE ÉCONOMIQUE ET FINANCIÈRE DE LA FRANCE, Le rôle des ministères des Financeset de l'Economie dans la construction européenne (1957-1978), Ministère de l’Économie desFinances et de l’Industrie, Paris, 2002, pp.27-51.25. G. CARLI, Cinquant'anni di vita italiana, Laterza, Roma-Bari, 1993, p.230.26. Ibid., pp.226-230.27. See S. ROSSI, La politica economica italiana 1968-1998, Laterza, Roma-Bari, 1998, p.14; M.SALVATI, Dal miracolo economico alla moneta unica europea, in: G. SABBATUCCI and V. VI-DOTTO (eds.), Storia d'Italia, op.cit., pp.358-359; S. TURONE, Storia del sindacato in Italia dal1943 al crollo del comunismo, Laterza, Roma-Bari, 1998, pp.403-405.28. PRO, PREM 13/3542, Notes of talks between the Italian minister of the Treasury, Colombo andthe Chancellor of the Exchequer, London, May 18 th 1970, confidential.The difference between the Treasury and the Bank of Italy's approaches is well described in a documentof the Commission: HAEC, EN, Folder 1509, Note on Monetary Issues, withouth a date andin a letter sent from Jacques van Helmont, secretary of Jean Monnet, to Robert Triffin on the WernerCommittee: «Il semble que» -wrote van Helmont- «la possibilité d'un accord entre les tendancesopposées se trouve dans la direction esquissée à Venise par M. Colombo. M. Ossola, sur instructionde M. Carli avait critiqué la création d'un Fonds de stabilisation; M. Colombo a été plus nuancé»,in: HAEC, Robert Triffin Papers (RT), Microfiche 18, Letter by J. Van Helmont to R. Triffin,Paris, June 5 th 1970.