Helmut Schmidt in 2014. Demotix/Simone Kuhlmey. All rights reserved.Helmut Schmidt, former West-German Chancellor from 1974 to 1982, known for his sharp-tongued bluntless and praised for his pragmatism and assertive crisis-management, will be remembered as the ‘global chancellor’ that propelled Germany into the role of an international Cold War leader. What he is less known for is the pivotal role he played in Greece’s entry to the European Economic Community (EEC) in 1981. Now, more than ever, this turbulent climate calls for a deeper understanding of Greece’s relationship with Europe, that goes beyond short-termist, ahistorical analyses.
Coming to power in 1974, Schmidt had an arduous task ahead. OPEC’s oil embargo in 1973 had led to a sharp rise in oil prices, and the world economy suffered from low growth, high inflation and increasing unemployment. The German Chancellor, appreciating the importance of prosperity for stability, feared the consequences of an economic crisis on the safeguards of democracy. Schmidt’s legacies in the international arena - he was one of the principal creators of the G-7 in 1975, the “dual-track” decision of 1979 and European Monetary System in 1979 - reflected the importance he placed on interdependence and the Atlantic Alliance.
Together with his friend and close ally, French president Valery Giscard d’Estaing, Schmidt shaped and drove the European project, paving the way for the common currency - the euro - adopted by EU members in 1999.
