Download European Monetary Integration 1970–79: British and French by Daisuke Ikemoto (auth.) PDF

By Daisuke Ikemoto (auth.)

The first systematic research of why Britain and France parted corporation at the factor of ecu financial integration. Ikemoto unearths that Britain was once a lot keener to take part within the early levels of financial integration than formerly notion; Britain and France pursued widely related rules at the factor till the top of the 1970s.

Show description

Read Online or Download European Monetary Integration 1970–79: British and French Experiences PDF

Best money & monetary policy books

Money and the Economy

This ebook presents a complete and systematic creation to the matter of the definition of cash and investigates the profits that may be accomplished by way of a rigorous use of microeconomic- and aggregation-theoretic foundations within the building of economic aggregates. It offers readers with key features of economic economics and macroeconomics, together with financial aggregation, call for structures, versatile sensible kinds, long-run financial neutrality, the welfare expense of inflation, and nonlinear chaotic dynamics.

Regional Monetary Integration

This e-book surveys the clients for nearby financial integration in a variety of elements of the realm. starting with a short assessment of the idea of optimum foreign money parts, it is going directly to research the constitution and functioning of the ecu financial Union, then turns to the clients for financial integration somewhere else on the planet - North the USA, South the United States, and East Asia.

The Dynamics of the Price Structure and the Business Cycle: The Italian Evidence from 1945 to 2000

Via exploring the cost dynamics and enterprise cycle of the Italian economic system near to crucial overseas occasions, this article sheds new mild at the country's present state of affairs. utilizing a long term analytical framework underpinned by means of important theoretical ways, the research locations specific emphasis on cost dynamics.

Extra resources for European Monetary Integration 1970–79: British and French Experiences

Example text

This could have derailed the recovery of the British economy and destabilised the international monetary system. 6 The British government also negotiated bilateral sterling agreements with the countries of the sterling area. Under the agreements, the sterling area countries were obliged to hold a certain proportion of their foreignexchange reserves in sterling. In exchange, Britain agreed to guarantee the value of 90 per cent of their sterling holdings in the US dollar. ) The important fact was that, as a consequence of the above developments, Britain was reduced to a position in which she was financially, and therefore politically, dependent on the United States.

The first two sections are concerned with the government’s policy towards EMU during international negotiations; and the third section with the situation of domestic party politics, which affected the ability of the government to legitimise and mobilise support for its policy in the future. Each section of the chapter begins with narrative accounts of the events and is followed by an analysis of the relative importance of explanatory factors formulated in the previous chapters regarding European policy pursued by the British government.

We will come back to this point later when we examine the Paris meeting between Heath and Pompidou in May 1971. (3) Economic considerations Two economic conditions had to be satisfied for any country to participate in a fixed exchange rate regime and to stay inside for a length of time: sound balance of payments situations, and a rate of inflation in line with that of other participants. When the Conservative Party took office in 1970, Britain’s balance of payments was in a strong position. However, the government could not be optimistic about the future.

Download PDF sample

Rated 4.69 of 5 – based on 26 votes