The Power of Money

Van Dormael, Armand

A highly readable account of the collision between sovereign states and global economic forces for the control of money. Throughout the ages money was a prerogative of national sovereignty and currency management was the responsibility of governments. Bretton Woods provided the post-war framework for intergovernmental monetary cooperation until the banking community, using the Eurodollar as an international medium of exchange, forced governments to adopt a regime of floating rates in the 1970s. The book describes the development of the Eurodollar market and the consequences for world finance as a new breed of financiers and currency traders radically changed the nature of international banking.

Details

Published by: Palgrave Macmillan

Publication Date: 1997-01-01

Format: Paperback

ISBN-13: 9781349143030

DOI: 10.1007/978-1-349-14301-6

Dimensions: 216cm x140cm

Pages: 184