IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-349-11821-2_3.html
   My bibliography  Save this book chapter

The Consortium and its Interbank Office: A Currency to be ‘Sold’

In: A Stable External Currency for Europe

Author

Listed:
  • Jacques Riboud

Abstract

The territory within which the new currency will circulate has been defined: it is the vast area, virtual or real, that is to be found between states. This area has no currency of its own, nor has it a central bank. Within this same area there is also the Euromarket. Virgin territory of this kind offers exceptional opportunities. The aim now is to imagine the kind of banking and monetary organisation that must be created for this new market so as to be able to put them to use in optimum conditions. The system proposed in these pages was inspired by the national systems to be found in all countries, the value of which has been proved by experience. What characterises these systems is the combination of a body (the central bank) which is under the explicit or implicit control of the government and a group of commercial banks. In order for this system to work, there is an instrument: the central bank money issued by the central bank in the form of claims on itself. This system makes it possible for the banks that are located within a national territory (13 500 in the United States) to create payment money in claims on themselves and to put it into circulation among the public, whilst at the same time remaining within the limits of a minimum of solidarity and discipline.

Suggested Citation

  • Jacques Riboud, 1991. "The Consortium and its Interbank Office: A Currency to be ‘Sold’," Palgrave Macmillan Books, in: A Stable External Currency for Europe, chapter 2, pages 33-40, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-11821-2_3
    DOI: 10.1007/978-1-349-11821-2_3
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-349-11821-2_3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.