Keynes’s design was in favour of the liberalization of the economy and the capital’s transfers, for the main purpose of monetary stability. To avoid … - Nico Perrone

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Keynes’s design was in favour of the liberalization of the economy and the capital’s transfers, for the main purpose of monetary stability. To avoid devaluation of currencies - a practice followed by governments in order to sustain their export - Lord Keynes planned to introduce “Bancor”, a money of account to be accepted by all countries in international exchanges. The international body to be organized would get interests both from debtor and creditor countries, in order to finance the balance of payments system (p. 130).

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About Nico Perrone

Nico Perrone (born April 27, 1935) is an Italian essayist, historian and journalist.

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The prevailing trend – from the Atlantic sea to the Ural mountains – seems to move towards a paramount blow up of nationalities. Such a trend – alive in the souls also under the centralized structures of strong multinational states – has been to weaken the Eastern socialistic countries. It appeared in the former Soviet Union, in the Yugoslav republics, and in Czechoslovakia after the fall of the Eastern regimes (p. 11).

Mattei was convinced that Italy, a poor and defeated country, nonetheless possessed notable energy deposits of petroleum in its subsoil, and he was also aware that the oil business, even if there were not really resources inside the country, was an important business which one could not stay out of and in which one could not be at the mercy of the big guys. So Mattei's program was to try to use all available means to exploit the country's energy resources, and if this were not possible, to seek international accords with coun¬tries which had these energy resources, so that they could be used by Italy in order to become a partner of the major pow¬ers, and not be at their mercy (p. 23).

The intention of the US found its feature through a clear formulation in the Agreement for the IBRD. The “purposes of the Bank” were defined as follows: “To promote private foreign investment by means of guarantees or participations in loans and other investments made by private investors; and when private capital is not available on reasonable terms, to supplement private investments by providing, on suitable conditions, finance for productive purposes out of its own capital, funds raised by it and its other resources” (p. 130).

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