It is not only trade which has become increasingly international in recent years. The same is true, as a result, of money. For many years national governments have intervened to control the issue of currency and the volume of credit within their own territories. Today increasingly, with the growth in exchanges across frontiers, international bodies are obliged to intervene for similar purposes in the international economy.


Exchange Rate Central Bank Executive Director European Central Bank Vote Power 
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  1. 11.
    Such a director must cast all the votes as a single unit. If they disagree, he ‘will do his best to accommodate the views and suggestions of all his constituents’ (E. P. Hexner, ‘The Executive Board of the IMF’, International Organization, Spring 1964).Google Scholar
  2. 15.
    For a persuasive statement of this case as it affects relations among states, see Susan Strange, ‘The Meaning of Multilateral Surveillance’, in R. W. Cox, ed., International Organisation: World Politics (London, 1969).Google Scholar
  3. 17.
    For an imaginative description of the way in which this role might be performed, see J. Tinbergen, Shaping the World’s Economy (New York, 1962). Professor Tinbergen is Chairman, UN Committee for Development Planning.Google Scholar


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Copyright information

© Royal Institute of International Affairs 1977

Authors and Affiliations

  • Evan Luard

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