The chapter focuses on the approach of the Federal Republic of Germany Chancellor Helmut Schmidt to the international economic crisis of the 1970s. During his years in power (1974-1982), Schmidt took part in the newborn G6 (later G7) ‘club’ which promoted the deregulation of the international economy and more generally the adoption of a ‘neoliberal’ course. The chapter shows how Schmidt had been an active promoter of a more ‘laissez-faire’ oriented approach, which he deemed as a necessary alternative to the no longer productive Keynesian recipes. Besides, Schmidt estimated that only a renewed Transatlantic solidarity under US leadership could stand the challenge brought by the ‘South’ of the world and by its requests of a new and fairer economic order. Thus, moving away from the traditional tenets of social democracy, Schmidt’s approach ended up promoting a new ‘bipartisan consensus’ towards the reborn neoliberal doctrine.
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