1. A similar argument can be made for currency boards, on which Schuler had enthused earlier. 2. However, with a currency board, the process is reversible. 3. This cuts out the currency board as middleman, and has a similar economic effect. 4. And all around the area, currency exchanges with glass fronts and currency boards have been gouged into the facades of centuries-old buildings. 5. And it has insisted that in order for Bulgaria to qualify for new loans, the government must agree to the introduction of a currency board. 6. Argentina adopted its currency board only after it lost control of its monetary policy and flirted with hyperinflation and the disintegration of its monetary system. 7. As a result, Canada has neither the responsiveness of a completely free floating exchange rate nor the predictability of a fixed rate set by a currency board. 8. As missionary of the fixed exchange rate, Hanke says he has promoted currency boards to the governments of Lithuania, Estonia, Bosnia, Bulgaria and Argentina. 9. Basically, a currency board has four tenets. 10. A currency board has to begin with enough reserves to support the local currency in circulation. |
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