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Published in:
1980 | OriginalPaper | Chapter
Use of the three keys, second example-Eurodollars and Eurodollar banks
Author : Jacques Riboud
Published in: The Mechanics of Money
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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It is a commonly held opinion, especially in France,1 that when a bank operates in the Euromarket in currencies other than its own national money, it retains the same power of creation of new money as it has in its own national banking system. This is one of those mistaken beliefs that illustrate very well the uncertainty of present-day knowledge with regard to monetary mechanisms.