Titlebook: Britain and European Monetary Cooperation, 1964-1979; Kiyoshi Hirowatari Book 2015 The Editor(s) (if applicable) and The Author(s) 2015 cr

确定的事

Book 2015he author illustrates how these developments offered opportunity for both cooperation and conflict in the light of monetary diplomacy. He demonstrates how Britain‘s struggle to achieve exchange rate stability, twinned with controversy over European Economic Community membership, finally prompted ser

兽皮

Summary of Part Is’ approach in the arena of monetary diplomacy. It entailed a process in which Britain would explore the possibility of sorting out the sterling balances within the European framework: a European approach to sterling.

biosphere

ALT

Harold Wilson, the 1964–66 Sterling Crisis and ‘The Second Try’e to consider what devaluation would really mean, began to indicate the fault line, which was not identical to the old tribal boundary.’. A fundamental question remains that needs to be discussed. While the existing historiography almost unanimously points to the impact of the sterling crisis on Wil

遵循的规范

The European Approach versus Sterling-Dollar Diplomacys of member countries’ and ‘a complete merger of currencies and the transfer of all assets and liabilities of individual Central Banks to a new European Central Bank’.. The former was close to a parallel currency approach to EMU. In this approach, while member countries would deposit their own reser

mydriatic

The 1976 IMF Crisis and Its Aftermath360 million.. In particular, and unlike the stand-by at the time of the 1967 devaluation, stringent terms entailing stabilisation programmes and performance clauses were agreed ‘for the first time in the Fund’s history’.. Furthermore, the Basle Agreement was restored in order to reduce the use of st

Kindle

Summary of Part IIt’. The exigencies of the crisis encouraged Britain to pursuethe creation of new reserve assets designed as a substitute for the key currencies,while ‘contagious mistrust’ meant the United States distanced itselffrom the scheme. The conflict between the United States and France overinternational liq

deforestation

后来

Theoretical Foundations of Value Capture,on Woods system and resulted in a transition to currency floating in the early 1970s. At the same time, Europe moved in a different direction: it aimed at cooperation to achieve monetary stability. This polarisation, which served to amplify currency convulsions, claimed the demise of sterling as an

反叛者

Principal Contributions and Implications,ion. This period witnessed a tidal wave of currency speculation, which swept across Britain from 1965 to 1967. While Britain was finally forced into the 1967 devaluation, the exigencies of the sterling crisis in the mid-1960s urged furtherance of an international credit facility — the 1968 Basle Agr