15  Lamfalussy believed in particular that this would help address asymmetric adjustment within the monetary union: “If surplus countries can be persuaded to expand their home demand at the same time as the deficit countries deflate their own economy, the balance can be restored without undue damage to the rate of growth of the Community as a whole.
We do not know what will be the degree of success achieved by the Community authorities in their co-ordinating activity; but it is certain that the existence of an administrative machinery and of an institutional framework (already successful in other fields) will improve the ability of the area to deal with such problems.” See Lamfalussy, A. (1963), The United Kingdom and the Six.