Word: internationale
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Dates: during 1960-1969
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WITH its plain white cover and official seal, the pamphlet from the Senate Subcommittee on National Security and International Operations looked as dull and uninviting as any other Government document. Even the Government Printing Office has its sleepers, however, and Of Specialists and Generalists quickly became the hottest item in...
For De Gaulle, it was also a matter of principle. From the start, the Gaullists have maintained that the crisis was an international affair in which the West German mark was deeply involved. In the French view, the mark was so strong that it was pulling other currencies off balance...
Whether it will or not remains to be demonstrated, for the consequences of the general's decision last week are difficult to foresee. There is always the possibility that the measures he is taking in lieu of devaluation may somehow succeed in stopping the run on the franc. France...
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...
Also out of Bretton Woods came the Washington-based International Monetary Fund, the arbiter of exchange rates. Written into the IMF articles of agreement, and binding upon its 111 member nations, is a proviso that no country may devalue its currency without IMF permission. In practice, the IMF allows devaluation...