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(The European Monetary System 50 Years after Bretton Woods:
A Comparison Between Two Systems
Columbia University
1. Fifty Years Ago
2. Order vs System
3. The Post-War System
4. The Mechanism of Adjustment
5. The Mounting Crisis
6. The Smithsonian System
7. Formation of the ERM
8. Crisis of the ERM
9. The Adjustment Mechanism
10. Conclusion
Paper presented at Project Europe 1985-95, the tenth edition of the "Incontri di Rocca Salimbeni" meetings, in Siena, 25 November 1994.
This paper evaluates key features of the international monetary system that emerged in the post-war period and contrasts it with the European Monetary System that originated in the late 1990s and which came to be regarded as the prelude to European Monetary Union.
1.免费论文网 【http://www.51lunwen.net】 Fifty Years Ago
A half century ago, when the conference at Bretton Woods was held, the international situation was very different from today. The world war was still raging but its initiative had passed to the Allies. Allied troops had landed in Normandy and were advancing across France; German forces were being pushed up the Italian spine; and the Japanese Empire was in full retreat. Thoughts had already turned to the task of reconstructing the post-war international economic system.
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