Only the American controlled sovereignty of IMF and World Bank are allowed, along with the strong national sovereignty of the US. Little and medium c… - Nico Perrone

After two years of exploratory discussions, and a conference (1st - 22nd July), the Bretton Woods agreements were initially signed by 44 states; the others followed in the course of time. A co-author of the project was the United Kingdom, under the leadership of Winston Churchill. Since the Atlantic Charter, issued by Roosevelt and Churchill (August 14, 1941), UK shared the US commitment for the postwar dominance, a multilateral payment system, and an international cooperation. The US was then the world biggest creditor country (p. 129).

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).

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).