And six years later it was on much the same basis that the European Economic Community or EEC was built. Robert Schuman became prime minister of France in 1947, by which time J.K. Paasikivi had taken up office as President. Schuman's government lasted only a year, after which he was minister of foreign affairs in eight successive governments.
Another idea is to set up a cross-border link between securities settlement systems. With such cross-border links, market participants will be able to settle foreign-currency funding transactions against domestic collateral assets, known as crosscurrency repos, in safe central bank money on a DVP basis.