The Washinton Realignment aims at adjusting the distortions of exchange rates which have arisen during the past years. In doing so, new data have been set for the future. These data have been fixed by the industrial countries. The less developed countries (LDCs) are affected thereby without...

During the past year the Euro-currency market played a very large role in bridging over the oil-induced payments imbalances. In the interest of international monetary stability this market should now move somewhat away from the centre of the stage and leave the main responsibility for the...