Word: escudos
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Dates: during 1990-1999
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...turmoil: the British pound, the French franc and the Italian lira also tumbled, and the Mexican peso resumed its free fall until the country's harsh new austerity plan led to a rebound. On top of that, governments were forced to devalue the Spanish peseta, the Portuguese escudo and the Brazilian real...
...skepticism of the Bundesbank is understandable. Its president, Karl Otto Pohl, and his cohort are still wrestling with an unfinished European Monetary System, involving commitments to support newcomers like the Greek drachma and the Portuguese escudo. But those countries, whatever their problems, are going concerns, while East Germany, whatever its potential, is nearly a basket case...