G7 has no answer to currency woes

Article Abstract:

The sharp rise of the Japanese yen against the dollar will be one of the main issues to be discussed at the forthcoming meeting of the finance ministers of the Group of Seven countries. Japan and France in particular are keen for immediate action to be taken, and France has called for a new system of target zones for currencies. However, the US believes that the dollar should be allowed to remain at its current level. The fate of the Japanese yen will eventually be determined by the pressure of the currency markets, not by government intervention.

Conferences, meetings and seminars, Foreign exchange

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So, how has Master Clarke been doing?

Article Abstract:

Kenneth Clarke entered an extremely difficult situation when he became chancellor, but this in fact worked in his favour. He has benefited from the fact that his political needs have generally been well in line with the state of the economy and public finances, and has been able to restore the tax-cutting image of the Conservative party. He is widely regarded as having performed reasonably well as chancellor.

Political activity, Clarke, Kenneth (American writer)

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A choice between jobs and 'franc fort.' (French monetary policy)

Article Abstract:

French president Jacques Chirac has pursued a policy of allowing the franc to strengthen, thus giving the Banque de France the opportunity to reduce interest rates. However, he may not be able to continue with this policy for much longer. There is considerable pressure on him to agree to a devaluation, and this in turn would have a very negative impact on plans for European monetary union.

France, Monetary policy

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