New PDF release: 50 Years of the German Mark: Essays in Honour of Stephen F.

By J. Hölscher

This well timed assortment offers an authoritative evaluate of 1 of the 3 key currencies of the second one half the 20th century, the German Mark. In his keynote essays, Charles A.E.Goodhart displays at the way forward for the Euro opposed to the heritage of the luck tale of the Deutsche Mark. His major drawback is, even if financial coverage in Euroland could be prepared for motion in case of an fiscal downturn. He additionally wonders no matter if the eu principal financial institution stands out as the similar defend opposed to inflation because the Bundesbank used to be. at the related factor of balance orientation Hans Tietmeyer stories the fifty years life of the German Mark mentioning that the Bundesbank will proceed to have a say in the ecu crucial financial institution. specifically he emphasizes the important a part of the Deutsche Mark as cornerstone of the so-called Social industry economic system in postwar Germany. the quantity should be of significant curiosity to teachers and practitioners alike.

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Additional info for 50 Years of the German Mark: Essays in Honour of Stephen F. Frowen

Sample text

There were also phases in which the DM's stability record was not satisfactory; for example, in the early 1970s. On occasion domestic misalignments jeopardized monetary stability. At other times there were external constraints through the exchange rate. Safeguarding and regaining internal stability also often required unpleasant measures. From time to time the Bundesbank came into conflict with the politicians, for the first time back in the early 1950s. But there have been periods, too, in which the exchange rate parity of the DM was inappropriate.

OstenSibly the American representatives considered the proposal to print in Leipzig a security problem, and insisted that all printing should be carried out in Berlin under strict four-power contro1. 30 There was no agreement on the matter by the end of 1946, and in any case no progress had been made on the future structure of the German banking system.

OstenSibly the American representatives considered the proposal to print in Leipzig a security problem, and insisted that all printing should be carried out in Berlin under strict four-power contro1. 30 There was no agreement on the matter by the end of 1946, and in any case no progress had been made on the future structure of the German banking system.

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