The first blow to the Bretton Woods

Statute of the International Monetary Fund changed twice: in 1968-1969. was introduced the first series of amendments. This time Europe groaned, but said nothing. In 1976-1978. was the second series of amendments. The old Bretton Woods monetary system replaced by a new Jamaican currency system[76]. Europeans Jamaican system did not like, and they began to create their own convertible currency. Europe already in 1973 established the European Monetary Cooperation Fund (EFVS) - in the framework of the European Monetary System. And from 13 March 1979 launched the European Monetary system in the Read more [...]
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