The Lifeboat Idea Internationally
While Britain was grappling with her secondary bank and property crises, the international banking world experienced some shocks which called for remedial action and led to closer and lasting co-operation among central banks in monitoring the health of the worldwide financial system. The difficulties were partly attributable to the problems of adjustment to floating exchange rates in the early 1970s and to strains in the Euromarkets in the harsher economic climate following the major round of oil price increases. But sometimes the trouble was more fundamental and lay in problems at individual banks.
KeywordsEurope Stake Fargo
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