Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
And, incidentally, is this fact:

Under a fixed exchange rate system, the surplus country has more power to determine policy stance than the deficit country.

a part of the reason that the Bretton Woods system collapsed? That the US was no longer willing to play ball in a system that favoured surplus countries when it went from being a surplus to a deficit country due to its colonial adventure in Indochina?

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Tue Jun 8th, 2010 at 07:54:39 PM EST
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