There had been a prior attempt to create an institution that would deal with short-term support mechanisms for member states: the European Monetary Cooperation Fund, launched in 1973 and governed by a board of central bank governors. Designated as a European Community institution, it was regarded as being dangerously political.
为成员国处理短期支持机制，之前曾试图创建一个机构：欧洲货币合作基金，成立于1973年，由各成员国央行行长组成的董事会管理。作为一个欧洲社会机构，人们认为它具有危险的政治性。