Chaos in the Foreign Exchanges

Jacques Riboud

Chapter 19 in The Case for a New ECU, 1989, pp 176-183 from Palgrave Macmillan

Abstract: Abstract In May 1981, the Socialist Party won power in France. Its election manifesto had promised a cut in the working week to thirty-five hours, an increase in the statutory annual paid holiday from four to five weeks, and the right for everyone to retire at sixty-five. All of this was to be achieved without any cut in pay levels, and in addition there was to be a programme of large-scale expansion of the workforce in the public sector and the nationalisation of a range of big companies. There was no doubt at all that this radical change of direction was an event of major importance for France, but not only for France: it was equally important for the European Community of which France is a member, but the leaders of the French Left never for a moment stopped to wonder what their neighbours, the Germans, might think of their plans.

Keywords: Exchange Rate; Foreign Exchange; Inflation Rate; Money Supply; Trade Balance (search for similar items in EconPapers)
Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-09730-2_19

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DOI: 10.1007/978-1-349-09730-2_19

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