2017•Unpublished venueOpen access

The European Monetary System and the dollar in the framework of the world monetary system

Robert Triffin

Abstract

The article reviews the developments of the European monetary system and the US Dollar in context of the world monetary system. The author first summarises the current state of the world monetary system before dealing with the European monetary system and the Dollar. The balance of payments of the U.S. and its impact on the external position of the dollar is then considered. Finally, the author looks at desirable reforms for the European monetary system going forward.

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Key concepts: Liberian dollar, Monetary system, Monetary hegemony, European Monetary System, Economics, Position (finance), Balance of payments, Context (archaeology)