At 07/01/02 13:13 +0100, Romain Kroes wrote:
>It is now becoming understandable that the way to get out of the spiral is >the political decision to marginalize the dollar as international-standard >currency, that is to move away from Washington's and IMF's domination. >President Saa seemed to be ready to break the unstoppable chain. But the >majority of Argentine politicians shrank from the difficulty. If the US dollar is likely to continue to rise while other currencies will tend to fall, it would be slightly more rational for economies like those of Argentina to be linked with the euro. Is there any possibility of a consensus emerging of a basket of currencies including the euro, and perhaps the renminbi, that assumes the dollar is likely to continue to rise for reasons of its unequal position in the world. And could such a basket of currencies be an emergent form of what Marx called world money? Chris Burford
