Ideas of a new European currency framework gained momentum and Luxembourg’s Prime Minister Werner, also Minister of Finance, was asked to steer a Committee mandated to design the path to an increased economic and monetary integration of the six then members of the European Economic Community.
Just after the Unit for Eastern European Economies had begun its work on September 1, 1991, the main object of its study, the Soviet Union, ceased to exist. But the arguments for understanding the economic developments in a large neighbour were and obviously remain true, even if the neighbour is now called the Russian Federation.