G7 Rejects Managed Currency Plan; Introducing Financial Stability Forum
REGULATORS
BONN--Leaders of the G7 organization of industrialized countries agreed in Bonn last week on the need for enhanced currency stability in the international markets. However, they stopped short of supporting the introduction of managed currency bands between the euro, the Japanese yen and the US dollar.
The G7 entente followed several weeks of lobbying by senior French and German government ministers in favour of an international agreement on trading bands for the global currencies. However, these
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