The perils of a weak monetary system

Stickmen on an island staring into a perilously deep crevice

Central Banking is proud to publish original contributions from two of the most respected "thought leaders" in the world of international finance – Richard Cooper and Jacques de Larosière. Both make practical proposals to improve the functioning of the international monetary system. Their proposals are complementary. Cooper proposes that countries agree targets for the growth of foreign exchange reserves – targets that, properly enforced, would impose greater discipline on surplus as well as

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