Word: financee
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Dates: during 1960-1969
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During the session De Gaulle asked few questions. He had on his desk three "position papers" from the Ministry of Finance. One of them projected the situation if the franc were devalued at 9.785%-the figure in Le Monde. The second paper outlined a devaluation of 7.5%. The third report...
Many factors were involved in De Gaulle's decision. One of them was pride. The West Germans had failed to mask their glee at France's discomfiture. In fact, the French first learned of the devaluation discussions in Bonn through press reports quoting West Germany's Finance...
French and German intransigence sent Europe's monetary system reeling toward the brink of crisis. On the day that Schiller, chairman of the Group of Ten, summoned the world's leading central bankers and finance ministers to an emergency meeting in Bonn, demand for gold in London hit...
When the money men assembled in the barracks-style structure that houses the West German Economics Ministry, Schiller wasted little time in making clear his opposition to the revaluation of the mark. As the meeting dragged on into evening, tempers began to flare. "They did everything except throw chairs at...
They agreed that gold would remain the primary international asset by which nations settle their debts with one another. The U.S. dollar, then backed by 57% of the free world's nationally held supply of gold, would be the key currency. Under that arrangement, then and today, other nations...