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The decline of sterling : managing the retreat of an international currency, 1945-1992
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ISBN: 110721081X 1282536338 9786612536335 0511678827 051167757X 0511682050 0511684037 0511676492 0511680074 9780511677571 9780511682056 0521876974 9780521876971 9780521876971 1107612993 Year: 2010 Publisher: Cambridge : Cambridge University Press,

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Abstract

The demise of sterling as an international currency was widely predicted after 1945, but the process took thirty years to complete. Why was this demise so prolonged? Traditional explanations emphasize British efforts to prolong sterling's role because it increased the capacity to borrow, enhanced prestige, or supported London as a centre for international finance. This book challenges this view by arguing that sterling's international role was prolonged by the weakness of the international monetary system and by collective global interest in its continuation. Using the archives of Britain's partners in Europe, the USA and the Commonwealth, Catherine Schenk shows how the UK was able to convince other governments that sterling's international role was critical for the stability of the international economy and thereby attract considerable support to manage its retreat. This revised view has important implications for current debates over the future of the US dollar as an international currency.

Politics and the pound : the conservatives' struggle with sterling.
Author:
ISBN: 0333632966 Year: 1996 Publisher: London Macmillan

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