In 1944, the Bretton Woods Agreement established a new global monetary system. Its hallmark was exchange-rate stability. Exchange-rate instability creates big problems. As we mark the 10th anniversary of the Lehman Brothers bankruptcy, we must ask, were exchange-rates stable in the fall of 2008?
In 1944, the Bretton Woods Agreement established a new global monetary system. Its hallmark was exchange-rate stability. Exchange-rate instability creates big problems. As we mark the 10th anniversary of the Lehman Brothers bankruptcy, we must ask, were exchange-rates stable in the fall of 2008?
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