Maxwell founded the paper in the fervour which immediately followed the destruction of the Berlin Wall and collapse of the Iron Curtain.

According to British academic James Dennison, 'Its first issue featured contributions from Margaret Thatcher, Wilfried Martens, Jacques Santer, Mário Soares and the President of the Bundesbank as well as polls showing majority support for a single currency (in the United Kingdom and others, but not Germany or Denmark), soft anti-Americanism, new pan-European Ecu-denominated financial indices and coverage of the disintegration of the eastern bloc.

'[2] Following Maxwell's death, the Barclay brothers bought the newspaper in 1992, investing an estimated $110 million and in 1996 transforming it into a high-end tabloid format oriented at the business community edited by Andrew Neil.

In 1996, The European had a staff of 70 in London, 3 in Brussels, 1 in Paris, 1 in Berlin, 1 in Moscow, as well as a network of 100 freelance writers throughout Europe.

[citation needed] Among the newspaper's innovations was a weekly short fiction contribution from published and previously unpublished writers.