Realigning interests : crisis and credibility in European monetary integration
Author(s)
Bibliographic Information
Realigning interests : crisis and credibility in European monetary integration
（Europe in transition : the NYU European studies series）
Palgrave Macmillan, 2004
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Note
Includes bibliographical references (p. [181]-194) and index
Description and Table of Contents
Description
Why do currency crises happen? What conditions set the stage for such a crisis? How severe will it be? When will it happen? This book answers these questions, illustrating the points by examining the exchange rate realignments of the European Monetary System. It also shows how balancing the tension between domestic and international politics plays a vital part in a government's willingness to uphold its exchange rate commitments. Michele Chang pays particular attention to the role of domestic elections, since these may prevent governments from credibly committing to a fixed exchange rate and from responding quickly and coherently to market instability, thus encouraging speculation.
Table of Contents
Introduction The European Monetary System Political Economy of Currency Crisis and Devaluation France, 1981 1986 France, 1988 1995 Italy: Domestic Versus International Origins of Currency Crises Ireland Conclusion
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