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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).
Nico Perrone (born April 27, 1935) is an Italian essayist, historian and journalist.
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The inspiring theory for Bretton Woods was suggested by a well known economist, beyond any suspect, John M. Keynes. Lord Keynes - as in the meanwhile he has been appointed by the English Crown - appeared worried about possible troubles in the international system of payments, like those occurred after World War One, which contributed to the new conflict. He has published an article on this subject in 1946. Consequently he gave the blessing of his authority to the agreements. Lord Keynes, as chief of the British delegation, was appointed chairman of the Commission II, charged for the institution of an International Bank for Reconstruction and Development - IBRD (World Bank). The Bretton Woods agreements represented a sort of solemn will for Lord Keynes, since he died out two years later the signature (p. 129).
The area spreading out from Scandinavia and England towards Maghreb and the Nile, from Ireland and Portugal towards Estonia and Iraq, makes up - even with certain internal peculiarities and divisione - the most unitarian system. I mean from the point of view of its breadth, its rich exchanhes, its sophisticated cultures and religions, its advanced social systems, its cohabitation of so many races and cistoms (p.19).
Only the American controlled sovereignty of IMF and World Bank are allowed, along with the strong national sovereignty of the US. Little and medium countries have been encouraged to divide themselves - occurred in former Yugoslavia, in Czechoslovakia, and was attempted in Northern Italy - or to dismiss their personality in favour of supranational organizations - in fact directed by the US (p. 141).