The article focuses on the role and functions of transnational social democratic networks in the Socialist International and the European Community during the 1970s. It ventures into deliberations inside these networks and examines how socialist leaders perceived and dealt with the economic and monetary crisis and also its implications for European integration. It establishes that socialist networks regarded economic and monetary issues instrumental to their societal conceptions in which they actively engaged throughout the decade. It also demonstrates that European socialists regarded European integration conductive to their policy objectives, and deemed their ideas for a rearranged economic system conductive to European integration.
Keywords: Transnational social democracy, socialism, European integration, economic and monetary crisis, 1970s.