Monnet was in London at the time, doing his utmost to encourage the French government to continue the war. Monnet proposed that the British government should do something dramatic to galvanize the French government. Monnet’s solution was to create a political union between England and France. The union would have a common currency and joint citizenship. It would also include a customs union.
With respect to "price stability," the stated objective of monetary policy, the Bank interprets this to mean "a state where various economic agents such as households and firms may make decisions regarding such economic activities as consumption and investment without being concerned about the fluctuations in the general price level."