27 November 1967: Charles de Gaulle vetoes Britain's entry to the EEC
On this day in 1967, French president Charles de Gaulle vetoed Britain's attempt to join the European Economic Community, claiming Britain didn’t agree with the core ideas of integration.
After World War II, Britain played a key role in protecting Western Europe, keeping troops in West Germany and helping to set up Nato. The foreign secretary, Ernest Bevin, was also an early supporter of European integration. In 1951 he said: “My policy is to be able to take a ticket at Victoria station and go anywhere I damn well please!”
However, Britain declined the opportunity to join the European Coal and Steel Community that same year, because of fears it would break up Britain's steel industry, which had been nationalised. As a result, Britain was not among the six countries that signed the Treaty of Rome in 1957, setting up the European Economic Community.
Strong European growth led the UK to submit an application in 1961, along with Denmark, Ireland and Norway. However, the French president, Charles de Gaulle, vetoed all four applications in 1963, arguing that Britain didn't agree with the core ideas of integration. So the UK formed the European Free Trade Association with six other nations. In 1967 Britain again attempted to join, and de Gaulle vetoed it again.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
But in 1969, de Gaulle departed, to be replaced by the more conciliatory Georges Pompidou, and French attitudes softened. After the 1970 election, the British prime minister, Ted Heath, pursued a third round of talks, and Britain joined in 1973 (as did Ireland and Denmark). A referendum in 1975 confirmed UK membership, with two-thirds of voters backing a slightly renegotiated deal. But tensions between Britain and Europe's institutions continued over the decades and Britain voted to leave in 2016.
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.
He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.
Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.
As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.
Follow Matthew on Twitter: @DrMatthewPartri
-
GSK share price surges after $2.2bn Zantac drug settlement
GSK has settled lawsuits in the US that alleged the drugmaker’s now-discontinued heartburn drug Zantac triggered cancer
By Chris Newlands Published
-
Will the Autumn Budget impact investment markets?
Keir Starmer has warned the Autumn Budget will be “painful”. Will it impact investment markets and should you tweak your portfolio before 30 October?
By Katie Williams Published
-
31 August 1957: the Federation of Malaya declares independence from the UK
Features On this day in 1957, after ten years of preparation, the Federation of Malaya became an independent nation.
By Jasper Spires Published
-
13 April 1960: the first satellite navigation system is launched
Features On this day in 1960, Nasa sent the Transit 1B satellite into orbit to provide positioning for the US Navy’s fleet of Polaris ballistic missile submarines.
By Ben Judge Published
-
9 April 1838: National Gallery opens in Trafalgar Square
Features On this day in 1838, William Wilkins’ new National Gallery building in Trafalgar Square opened to the public.
By Ben Judge Published
-
3 March 1962: British Antarctic Territory is created
Features On this day in 1962, Britain formed the British Antarctic Territory administered from the Falkland Islands.
By Chris Carter Published
-
10 March 2000: the dotcom bubble peaks
Features Tech mania fanned by the dawning of the internet age inflated the dotcom bubble to maximum extent, on this day in 2000.
By Chris Carter Last updated
-
9 March 1776: Adam Smith publishes 'The Wealth of Nations'
Features On this day in 1776, Adam Smith, the “father of modern economics”, published his hugely influential book The Wealth of Nations.
By Ben Judge Last updated
-
8 March 1817: the New York Stock Exchange is formed
Features On this day in 1817, a group of brokers moved out of a New York coffee house to form what would become the biggest stock exchange in the world.
By Chris Carter Last updated
-
7 March 1969: Queen Elizabeth II officially opens the Victoria Line
Features On this day in 1969, Queen Elizabeth II took only her second trip on the tube to officially open the underground’s newest line – the Victoria Line.
By Ben Judge Last updated