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Lessons from the SUCRE and TARGET2 systems for a sound international monetary system in a financialized economy

Author

Listed:
  • Juan Barredo-Zuriarrain

    (UPV / EHU - University of the Basque Country = Euskal Herriko Unibertsitatea, CREG - Centre de recherche en économie de Grenoble - UGA [2016-2019] - Université Grenoble Alpes [2016-2019])

  • Manuel Cerezal-Callizo

Abstract

More than 70 years after the Keynes Plan was originally created, it is still considered an alternative to the current International Monetary System (IMS) and many believe it contains potential benefits for issues such as global stability, employment and fair relations among countries. In fact, it has served as an inspiration for real cases of regional payment systems. In this article, the Keynes Plan is considered the main guideline for a specific reform proposal of the IMS in the twenty-first century. Therefore, our first intention will be to explain the main political and technical advantages of the Keynes Plan, which will serve as a prerequisite to subsequently identify the conditions for its optimal performance in the financialized economy of the twenty-first century. For that purpose, we draw lessons from the dynamics observed in two different regional payment-systems: the SUCRE in Latin America and the TARGET2 in the Eurozone.

Suggested Citation

  • Juan Barredo-Zuriarrain & Manuel Cerezal-Callizo, 2019. "Lessons from the SUCRE and TARGET2 systems for a sound international monetary system in a financialized economy," Post-Print halshs-02089770, HAL.
    • Handle: RePEc:hal:journl:halshs-02089770
    DOI: 10.1080/01603477.2018.1520045
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    Cited by:

    1. Rosaria Rita Canale & G. Liotti, 2022. "Target2 imbalances and poverty in the eurozone," Journal of Evolutionary Economics, Springer, vol. 32(5), pages 1395-1417, November.

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