The area spreading out from Scandinavia and England towards Maghreb and the Nile, from Ireland and Portugal towards Estonia and Iraq, makes up - even… - Nico Perrone

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).

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).

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).