Oskar Lafontaine

Series Title
Series Details 03/09/98, Volume 4, Number 31
Publication Date 03/09/1998
Content Type

Date: 03/09/1998

Germany's next finance minister if the SPD wins the election later this month, has called for trading bands for the euro and other leading world currencies. While the proposal is likely to be greeted with scepticism by world finance ministers, it has the support of French Prime Minister Lionel Jospin. The idea shares similarities with former US Federal Reserve board chairman Paul Volcker's call for the re-establishment of global exchange rate parameters along the lines of the postwar Bretton Woods system.

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