|
| |
| | [No title] |
 | | The prospect of the single market stimulated competition between European companies and prompted American and Japanese companies to develop their bases in Europe. | | | The increasing economic and financial difficulties and periodic agitation of the markets produced heavy monetary turbulence. | | | François Mitterrand approached it with caution: Germany had to be united while respecting the interests and concerns of all Europeans. |
|
http://www.unesco.org/mitterrand/anglais/ieuroues.htm
(1668 words)
|
|
| |
| | European Exchange Rate Mechanism - Wikipedia, the free encyclopedia |
| | Currencies in ERM II are allowed to float within a range of ±15% with respect to a central rate against the euro. | | | Before the introduction of the Euro, exchange rates were based on the ECU, the European unit of account, whose value was determined as a weighted average of the participating currencies. | | | On December 31, 1998, the ECU exchanges rates of the Eurozone countries were frozen and the value of the Euro, which then superseded the ECU on a 1:1 basis, was thus established. |
|
http://en.wikipedia.org/wiki/European_Exchange_Rate_Mechanism
(499 words)
|
|
| |
| | Exchange Rate Regimes in the Twentieth Century |
| | The authors conclude that, despite the difficulties associated with floating rates, it is highly unlikely that the float will be replaced by a new Bretton Woods in the foreseeable future. | | | Chapter 3 takes up the story with the abandonment of the gold standard in the early 1930s by most of the countries that had re-established it in the 1920s. | | | Chapter 4 covers the well-known elements of the Bretton Woods system and the reasons for its decline. |
|
http://www.eh.net/bookreviews/library/0201.shtml
(959 words)
|
|
| |
| | No Title |
| | I find considerable support for modeling the exchange rate using limited dependent variable framework. | | | The limited dependent variable rational expectations model integrates this feature of the exchange rate mechanism into the estimation process. | | | Moreover, it explicitly models expectations of economic agents who will incorporate the bounded nature of the data into their information sets when forming expectations about exchange rate movements. |
|
http://www.unige.ch/ce/ce96/abs/karasulu/karasulu.html
(316 words)
|
|
| |
| | Slovenia Business Week |
| | The central exchange rate was set at SIT 239.64 for one euro. | | | The central bank also does not intend to automatically change interest rates, as the current rates do not cause any pressure on the market. | | | According to a press release from the central bank, the meeting was held to exchange views on the developments on the market following the entry into the ERM II. |
|
http://www.gzs.si/SBW/head.asp?idc=16399
(203 words)
|
|
| |
| | Harvard Asia Pacific Review |
| | In fact, in early 1999, much attention was devoted to how volatility among the dollar, yen, and euro might be reduced. | | | Asian companies that have or aim for significant market shares in Europe or strategic partnerships with European-based businesses will have to consider dealing with the euro in their transactions. | | | The Hong Kong company Hutchinson Whampoa launched the first non-Japanese euro denominated bond in London. |
|
http://hcs.harvard.edu/~hapr/winter00_millenium/Euro.html
(1938 words)
|
|
| |
| | Nationalbanken // Monetary Policy // Web document // Exchange Rate Mechanism / ERM II |
| | In recent years Danmarks Nationalbank has maintained a stable krone rate closer to the central rate. | | | The central rate is a conversion of the central rate vis-à-vis the D-mark before the third stage of EMU and was last adjusted in January 1987. | | | The standard width of the fluctuation band in ERM II is +/- 15 per cent. |
|
http://www.nationalbanken.dk/DNUK/MonetaryPolicy.nsf/side/Exchange_Rate_Mechanism__ERM_II?OpenDocument
(302 words)
|
|
| |
| | SCADPlus: New exchange-rate mechanism (ERM II) |
| | This is important to ensure that excessive exchange-rate fluctuations do not cause problems in the internal market. | | | This mechanism allows one standard fluctuation band of 15% on either side of the central rate. | | | According to the Resolution of the European Council on the establishment of an exchange-rate mechanism in the third stage of Economic and Monetary Union (Amsterdam, 16 June 1997), the new exchange-rate mechanism was to replace the European Monetary System (EMS) as from 1 January 1999. |
|
http://europa.eu.int/scadplus/leg/en/lvb/l25047.htm
(974 words)
|
|
| |
| | x2f98s |
| | Show the same scenario as in 7a) in the IS/LM model. | | | Show in a graph how European monetary policy could be used to increase the value of the Euro and how it would impact the US economy. | | | Today you need about 30 Rubles to buy one dollar and the exchange rate is no longer fixed. |
|
http://depts.washington.edu/~teclass/Mid2/x2f2.htm
(537 words)
|
|
| |
| | EconPapers: Currency Crises and Political Factors: Drawing Lessons from the EMS Experience |
| | To that end, we apply the duration model approach to estimate an eclectic model that enables us to explicitly incorporate political and institutional factors into the explanation of European exchange rate policies. | | | The estimation is based on quarterly data of eight currencies participating in the ERM, covering the complete European Monetary System (EMS) history. | | | On the other hand, elections, central bank independence and left-wing government increase the probability of maintaining the current regime, while unstable governments would have been associated with a regimen change. |
|
http://econpapers.repec.org/paper/fdafdaddt/2004-04.htm
(242 words)
|
|
| |
| | Lords Hansard text for 5 Feb 1997 (170205-01) |
| | The House met at half-past two of the clock: The LORD CHANCELLOR on the Woolsack. | | | Whether they will reinstate the successful Top Flight Bursaries Scheme to encourage some of the best aspiring undergraduates to study engineering. | | | Our view is that we should maintain an open mind--which we thought was also the Government's view--and that if the situation were such that we could join then we would do so. |
|
http://www.parliament.the-stationery-office.co.uk/pa/ld199697/ldhansrd/vo970205/text/70205-01.htm
(1456 words)
|
|
| |
| | Publisher description for Library of Congress control number 2004043620 |
| | Publisher description for The political economy of exchange rate policy-making : from the gold standard to the euro / Steven Kettell. | | | He examines and provides a new means of understanding three key policymaking episodes in Britain: the return to the gold standard in 1925, membership of the European Exchange Rate Mechanism from 1990-1992, and the possibility of joining the Single European Currency. | | | The alternative means of understanding these policy episodes provides a basis for making wider generalizations about the political economy of exchange rate policymaking. |
|
http://www.loc.gov/catdir/description/hol053/2004043620.html
(156 words)
|
|
| |
| | How Wall Street Shattered Tokyo and London gave Frankfurt Woe |
| | No one outside of the Japanese Ministry of Finance knows exactly how many such promises those Japanese companies, sold in the secretive, unregulated, over-the-counter derivative market, where financial institutions trade among themselves. | | | As a result, German financial authorities feel that they have lost a large measure of control over their nation’s Financial system. | | | Because German interest rates were high, international investors bought up German bonds. |
|
http://www.aliciapatterson.org/APF1502/Millman/Millman.html
(4032 words)
|
|
| |
| | EconPapers: Speculative Market Structure and the Collapse of an Exchange Rate Mechanism |
| | This paper develops a game-theoretic model that captures this feature of the speculative market. | | | The model implies a U-shaped unconditional distribution for the narrow band and a W-shaped distribution for the wide band. | | | Such a `wall' serves as a barrier to exchange rate movements and therefore helps stabilize exchange rate fluctuations, although it does not eliminate the possibility of the collapse of the system. |
|
http://econpapers.repec.org/paper/cprceprdp/1164.htm
(340 words)
|
|
| |
| | College Highschool essays reports research papers university, students papercamp |
| | Presumably, it knows best how to handle them, and it is to be hoped that | | | The biggest advantage of floating exchange rates is that they give each country control over its | | | For all these reasons, floating exchange rates are the best system available to central banks at this |
|
http://www.papercamp.com/bus46.shtml
(2308 words)
|
|
| |
| | A New Market-Based Exchange Rate Mechanism |
| | Why do official sales of options would reduce market volatility? | | | It has been suggested that central-bank selling of options would inhibit private-sector selling, and that this is undesirable. | | | In contrast, the mechanism proposed here is analogous to a field of tall grass. |
|
http://www.jdawiseman.com/papers/finmkts/fx_opt.html
(1764 words)
|
|
| |
| | Exchange rate - encyclopedia article about Exchange rate. |
| | The Currency Market or Foreign Exchange Market The currency market or foreign exchange market is the market where one currency is traded for another. | | | The foreign exchange markets are usually highly liquid as the main international banks continually provide the market with both bid (buy) and ask (sell) offers. | | | To most travelers exchanging 10 or 100 or even 1,000 dollars this is only a few dollars, but if you are a business exchanging millions, this can be a huge risk. |
|
http://encyclopedia.thefreedictionary.com/exchange+rate
(3555 words)
|
|
| |
| | FT.com - Special Reports / Euro |
| | Ecu: European Currency Unit, precursor of the euro. | | | Exchange Rate Mechanism (ERM): The framework, launched in 1979, which aimed to stabilise rates between EU currencies. | | | The system was relaunched in a looser form allowing greater fluctuations in 1993. |
|
http://specials.ft.com/euro/FT3W5HX68UC.html
(1615 words)
|
|
| |
| | European Business News (EBN), 96-10-14 |
| | From: The European Business News Server at | | | From the European Business News (EBN) Server at http://www.ebn.co.uk/ | | | But he has also criticised fat paychecks for officials in power. |
|
http://www.hri.org/news/europe/ebn/1996/96-10-14.ebn.html
(1297 words)
|
|
| |
| | Black Wednesday: Information From Answers.com |
| | The exchange rate was largely kept in place by the use of interest rates, set without matching action to control the domestic economy. | | | At the time, the Bank of England was not independent and interest rates were set by the Chancellor of the Exchequer. | | | From the beginning of the 1990s, high German interest rates, set by the Bundesbank to counteract inflationary effects related to excess expenditure on German reunification, caused significant stress across the whole of the ERM. |
|
http://www.answers.com/topic/black-wednesday
(1207 words)
|
|
| |
| | CEF 1997: Time-Varying Risk of Realignment in the European Rate Mechanism: A Comparison of Linear and Nonlinear ... |
| | Additionally, under the maintained hypothesis that this model of expected rates of devaluation is correct, these tests can be seen as tests of how well market agents were able to predict the actual devaluation of the pound and the lira in 1992. | | | As a result, credibility of the European target zone — measured by the expected rate of change in realignment — after the bands were widened in 1992 can begin to be measured. | | | More importantly, this paper introduces three innovations, which build on previous research by Svensson (1992, 1993) and by Chen and Giovannini(1993). |
|
http://bucky.stanford.edu/cef97/abstracts/bauer.html
(1238 words)
|
|
| |
| | United Press International - Business(p) - Currency speculators and the new EU |
| | Most of the European Union accession states are keen to adopt the euro as fast as possible, although it is unlikely that many will get in until the end of the decade. | | | Rates have since been cut back to 12 percent. | | | The mechanism is designed to bring stability and discipline to currency markets in the run up to full adoption of the euro. |
|
http://www.upi.com/view.cfm?StoryID=20040425-095950-9708r
(1273 words)
|
|
| |
| | Exchange Rate Mechanism - Hutchinson encyclopedia article about Exchange Rate Mechanism |
| | The United Kingdom (which had withdrawn from the mechanism in turbulent circumstances in October 1992) and Sweden were, in 2001, not members of the ERM. | | | The ERM was revised from 1 January 1999, with the launch of the single European currency (euro), and Greece and Denmark became members of ERM II (a structure linking the currencies of some non-participating member states to the euro). | | | System established in 1979 for controlling exchange rates within the European Monetary System of the European Union (EU) that was intended to prepare the way for a single currency. |
|
http://encyclopedia.farlex.com/Exchange+Rate+Mechanism
(226 words)
|
|
| |
| | Sterling strengthens against mark |
| | Even in the United States, the market is scaling back expectations of higher interest rates. | | | European markets were calm and thin because of the US July 4 Independence Day holiday. | | | The British interest rate market is now discounting at least a half-point rise in interest rates by September. |
|
http://www.expressindia.com/fe/daily/19970705/18655623.html
(577 words)
|
|
| |
| | * ERM - (Business): Definition |
| | The methodology by which members of the EMS maintain their currency exchange rates within an agreed-upon range with respect to other member countries... | | | For much of the 20th century, currency exchange rates were pretty much whatever governments decided they should be... | | | Escalation Clause A clause contained in a contract, usually for major construction work, which permits the overall... |
|
http://en.mimi.hu/business/erm.html
(264 words)
|
|
| |
| | The Convergence Criteria |
| | But this criterion is also satisfied if it is approaching the reference value at a satisfactory speed. | | | Inflation rates, observed over a period of one year, must not be more than 1.5 per cent above the average of the three best-performing members. | | | Currencies must have respected the normal fluctuation margins provided by the Exchange Rate Mechanism of the European Monetary System without severe tensions or unilateral devaluations for at least the last two years. |
|
http://www.mac.doc.gov/euro/convergence.htm
(249 words)
|
|
| |
| | European Monetary Union: Definition and Much More From Answers.com |
| | From July 1, 1990, exchange controls were abolished, thus capital movements were completely liberalised in the EEC. | | | The Delors report (http://europa.eu.int/comm/economy_finance/euro/origins/delors_en.pdf) of 1989 set out a plan to introduce the EMU in three stages and it included the creation of institutions like the European System of Central Banks (ESCB), which would become responsible for formulating and implementing monetary policy. | | | EMU is sometimes misinterpreted to mean European Monetary Union. |
|
http://www.answers.com/topic/economic-and-monetary-union
(707 words)
|
|
| |
| | BBC News Single currency The Emu criteria |
| | This will push down inflation rates and lead to more stable prices. | | | Exchange rates must be kept within "normal" fluctuation margins of Europe's exchange-rate mechanism. | | | Countries should have an inflation rate within 1.5% of the three EU countries with the lowest rate. |
|
http://news.bbc.co.uk/hi/english/special_report/single_currency/newsid_66000/66945.stm
(312 words)
|
|
| |
| | Bloomberg.com: Europe |
| | Slovenia pegged the tolar to a rate of 239.640 per euro yesterday, compared with a current market rate of 239.656. | | | Retailers, manufacturers and other companies that work in multiple markets face lower costs when there's a common currency, said Raimo Ilveskero, who runs Finnish Kesko Oyj's 54 supermarkets in Estonia. | | | Lithuania and Estonia, whose currencies were already pegged to the euro, will keep the fixed exchange rates of 3.4528 litas and 15.6466 kroons to the euro rather than let the rates fluctuate within a 15 percentage-point band, as the exchange-rate mechanism allows. |
|
http://quote.bloomberg.com/apps/news?pid=10000085&sid=aeQWr83PCJJk&refer=europe
(904 words)
|
|
| |
| | The likelihood of a single European currency by 2000 |
| | The EMU will develop a much larger financial market than today’s fragmented currency markets in Europe and the euro will be a significant alternative to the US and therefore will help to increase capital flows into Europe. | | | To get a stable European currency it is important that all participating countries have a stable economy. | | | Additionally the exchange rate of the Irish pound fluctuates too much against the German Mark. |
|
http://cctr.umkc.edu/user/msteffek/euro_501.htm
(1643 words)
|
|
| |
| | The euro - Europe's single currency - EUbusiness |
| | EU presses newcomers to work harder to join euro | | | Dutch retailers round off euro prices to get rid of smallest coins | | | Euro banknotes and coins have been in circulation since 1 January 2002 and are now a part of daily life for over 300 million Europeans living in the euro area. |
|
http://www.eubusiness.com/topics/Euro/index_html?b_start:int=60
(1004 words)
|
|
| |
| | European Exchange Rate |
| | Using Options To Stabilise FX: A New Exchange Rate Mechanism I n t r o d u c t i o n This paper 1 describes a new FX-stabilisation mechanism. | | | 19 (Bloomberg) -- European stocks fell, pushing the Dow Jones Stoxx 600 Index to its biggest decline in two weeks, amid concern interest rates worldwide may rise, hurting consumer demand and companies' profits. | | | Andreas M. Fischer Working Paper No. 02.03 This discussion paper series represents research work-in-progress and is distributed with |
|
http://www.exchange-rate.biz/web_european_exchange_rate_13.html
(428 words)
|
|
| |
| | Suomen Pankki - Finlands Bank - Bank of Finland |
| | The European Monetary System (EMS) was replaced by a new exchange rate mechanism (ERM II) at the start of Stage Three of Economic and Monetary Union (EMU) on 1 January 1999. | | | The ECB and the national central bank of the participating country intervene automatically at the standard margins with no limit to the size of interventions. | | | Estonian kroon included in the Exchange Rate Mechanism II, 27 June 2004 |
|
http://www.bof.fi/eng/2_rahapolitiikka/2.4_EMU/2.4.1_ERMII/intro.stm
(426 words)
|
|
| |
| | BBC NEWS In Depth Euro-glossary ERM (Exchange Rate Mechanism) |
| | It was hoped that the mechanism would help stabilise exchange rates, encourage trade within Europe and control inflation. | | | In 1992 the ERM was wrenched apart when a number of currencies could no longer keep within these limits. | | | Along with the Ecu, the Exchange Rate Mechanism was one of the foundation stones of economic and monetary union. |
|
http://news.bbc.co.uk/hi/english/in_depth/europe/euro-glossary/newsid_1216000/1216833.stm
(186 words)
|
|
| |
| | National Review: Erm, R I P - European Exchange Rate Mechanism - Editorial |
| | A system of fixed exchange rates can bring some temporary benefits in the periods when economies are in sync and nations are willing to coordinate their economic policies. | | | But it's hard, indeed impossible, to keep a pegged-rate system intact when governments follow divergent economic policies, or when their inflation rates differ, or when the economic fundamentals change in some way. | | | The decision to let European currencies float in a 15 per cent band signals the effective end of the European Exchange Rate Mechanism. |
|
http://www.findarticles.com/p/articles/mi_m1282/is_n16_v45/ai_13294499
(453 words)
|
|
| |
| | Italy Enters the Euro Age |
| | Italy also rejoined the Exchange Rate Mechanism, a prerequisite for EMU. | | | In the past the exchange rate tool has been frequently used to support Italian exports. | | | With this tool unavailable, there has been much press commentary recently about the prospect of economic “colonization” of Italy by bigger companies from other European countries. |
|
http://www.mac.doc.gov/euro/cable2.htm
(727 words)
|
|
| |
| | EMBASSY OF GREECE: PRESS OFFICE - News Bulletin |
| | He said that the devaluation might cause a small, short-term inflationary trend in coming months, but that, with a positive and cool-headed response from the social interests concerned, the final increase in the inflation rate at year's end would be close to the 2.5 percent target. | | | The inflation rate stood at 4.3 percent in February. | | | The 14 percent devaluation and the accompanying economic measures, he added, would "fortify the drachma and lead to lower interest rates, which would in turn reduce the national debt and encourage self-sustaining economic growth." |
|
http://www.greekembassy.org/press/bulletin/mar98.html
(2704 words)
|
|
| |
| | EMBASSY OF GREECE: PRESS OFFICE - News Flash |
| | "I wish to stress that in past years other European countries were also obliged to proceed with adjustments in their currencies' parities, despite the fact that their inflation was much lower. | | | The adjustment of a currency with the purpose of its accession to the Exchange Rate Mechanism is customary to maintain its stability afterwards. | | | These benefits are particularly important and crucial for the success of our entire effort to improve the standard of living of all the Greeks. |
|
http://www.greekembassy.org/press/newsflash/1998/march/nflash0316c.html
(648 words)
|
|
| |
| | British Conservative opposition party relives Black Wednesday shame |
| | The exchange rate mechanism, which tied the value of the pound to other European currencies ahead of the formation of the single European currency, was supposed to control inflation in the economy. | | | The documents, requested by the Financial Times in the first significant release of papers under the information laws, spelt out the full cost of the September 1992 devaluation -- some 3.3 billion pounds (5.8 billion dollars at the time) -- and the "spectacularly wrong" decision that led up to it. | | | While failing to offer any surprising new information on Britain's biggest political and economic humiliation in the past two decades, the archives showed that officials would probably have delayed entry to the ERM or joined at a lower rate had they known the true state of the economy in October 1990. |
|
http://www.theallineed.com/news/0502/104219.htm
(919 words)
|
|
| |
| | The Hindu News Update Service |
| | Nations must be in the system for at least two years before they can join the euro zone. | | | The mechanism pegs their currencies to the euro within a 15 percent margin above or below a central rate. | | | The decision at a meeting of European monetary officials yesterday comes a year after the three joined the European Union along with seven other new members. |
|
http://www.hinduonnet.com/thehindu/holnus/006200504301165.htm
(120 words)
|
|
| |
| | no euro |
| | The protocols of the Maastricht Treat state that new members trying to join the single currency are expected to spend two years inside the so-called ERM II, which allows 15 percent fluctuation around a central parity against the euro. | | | Despite the Commission’s insistence that England would have to join the exchange rate mechanism, both Italy and Finland did not stay in the currency regime for the required two years before being allowed to join the euro. | | | But Britain has said there is no way it will rejoin he exchange rate mechanism, from which it was ejected in 1992 after spending billons of pounds and raising interest rates in a vain bid to maintain the currency link. |
|
http://www.no-euro.com/mediacentre/dossiers/display.asp?IDNO=1086
(341 words)
|
|
| |
| | Bessec, Marie: Mean-Reversion versus PPP Adjustment: The Two Regimes of Exchange Rate Dynamics Under the EMS, 1979-1998 |
| | Given the non stationarity and the nonlinearities characterizing foreign exchange rate dynamics, we analyse this question in the framework of a Markov-Switching Error Correction model : it allows a discontinuous adjustment towards the cointegration relationship. | | | This paper examines jointly the empirical relevance of the mean-reversion and the Purchasing Power Parity (PPP) hypotheses in the exchange rate dynamics within the European Exchange Rate Mechanism (ERM). | | | Mean-Reversion versus PPP Adjustment: The Two Regimes of Exchange Rate Dynamics Under the EMS, 1979-1998 |
|
http://www.nuff.ox.ac.uk/users/doornik/eswc2000/a/1305.html
(131 words)
|
|
| |
| | [No title] |
| | Authorities have prepared a fiscal consolidation plan designed to cut the budget deficit and public debt, but there are elements to the blueprint which require parliamentary approval, adding to delays. | | | He was speaking after a meeting of the monetary policy committee, which decided to leave rates unchanged. | | | The rate mechanism, the ante room to adoption of the euro, would lock the Cyprus pound against the European currency and require it to hold within a range against the euro for at least two years. |
|
http://www.cyprus-mail.com/news/main.php?id=14615&cat_id=1
(286 words)
|
|
| |
| | Europe: Explaining the European Exchange Rate Mechanism.@ HighBeam Research |
| | The European Exchange Rate Mechanism, which permits currencies of the EC nations with a variance of 15%, either side of their central rates, and a few weaker currencies with a range of 30%, will probably survive the aftermath of German unification and resistance from certain nations. | | | This is because the commitment of the EC to a single currency has lasted more than three decades. | | | Europe: Explaining the European Exchange Rate Mechanism.@ HighBeam Research |
|
http://highbeam.com/library/doc0.asp?docid=1G1:14538944&refid=ink_tptd_mag
(175 words)
|
|
| |
| | Boston.com / Business / Markets / Dollar falls to 12-year low against pound |
| | He added Tokyo was also in close contact with European authorities. | | | Gold prices also rose in London as the dollar weakened against the euro. | | | The euro was quoted at $1.3311 on Wednesday, up from $1.3291 late Tuesday and close to the record low of $1.3335 reached on Tuesday against the currency used by France, Germany and 10 other European nations. |
|
http://www.boston.com/business/markets/articles/2004/12/01/dollar_falls_to_12_year_low_against_pound?mode=PF
(513 words)
|
|
| |
| | United Press International - NewsTrack - Estonia, Lithuania, Slovenia join ERM |
| | Joining the Exchange Rate Mechanism is the first step to adopting the euro. | | | Countries must remain within it for two years and must ensure that their currencies do not deviate by more than plus or minus 15 percent around a central parity to the euro. | | | However, economists say some of them may not be able to meet the strict convergence criteria set down by the European Central Bank. |
|
http://www.upi.com/view.cfm?StoryID=20040628-054732-7149r
(437 words)
|
|
| |
| | Soros on Russia |
| | He said this rate should be 15 to 25 per cent below the current exchange rate, to reflect the impact of the collapse in the oil price. | | | Mr Soros, who made a fortune betting against the European exchange rate mechanism, has been an critic of fixed-rate currencies, and conceded that the currency board he proposes for Russia "is too rigid, and an arrangement that is too rigid is in danger of breaking. | | | "But in the present circumstances, it is the most efficient way to stabilise the situation." In a letter to the Financial Times, Mr Soros said Russia would require $50bn of reserves to back a currency board, whereby it would be committed to exchanging roubles for dollars or euros at a set rate. |
|
http://www.bradynet.com/bbs/russia/100022-0.html
(596 words)
|
|
| |
| | The European: Lira is back, but 990 questions remain. (re-admittance of Italian Lira to European Exchange Rate ... |
| | By underlining this fact, Stark once again reiterated German fears that, if countries like Spain and Italy are allowed to join, Germany' s currency will be severely weakened when it is replaced by the euro. | | | THE most telling episode after the ET's monetary committee re-admitted the Italian lira to the exchange rate mechanism came at a sparsely attended German press conference where Jurgen Stark, Germany's under- secretary of finance, said Italy's re-entry into the ERM "is not a pre-judgment of the later decision on entering European monetary union". | | | Our archive contains millions of documents from thousands of sources and goes back over 23 years. |
|
http://www.highbeam.com/library/doc0.asp?DOCID=1P1:28618164&refid=holomed_1
(212 words)
|
|
| |
| | UCSC Department of Politics Faculty Publications |
| | An earlier version of this paper was published under a different title ("If I Can't Change the Rules, Then I Won't Play Your Game: Britain In and Out of the Exchange Rate Mechanism of the European Monetary System") by the University of California Center for German and European Studies Working Paper Series, 2.24, June 1994. | | | "Explaining the European Currency Crisis of September 1992" (With Dorothee Heisenberg), German Politics and Society, No.29, Summer 1993, pp. | | | Academic Interests: Political economy, European community monetary integration; Britain and European community; U.S. debt management; advanced industrial countries. |
|
http://zzyx.ucsc.edu/Pol/harmonpubs.html
(201 words)
|
|
|
