BIS Report Calls 1992 Currency Crisis Biggest Since Bretton-Woods Collapse
REGULATIONS
Intervention by central banks during the European Monetary System crisis last year was the largest it has ever been, according the annual report of the Bank for International Settlements published June 14. Concludes the BIS, "despite its geographical confinement to Europe, it is probably no exaggeration to say that the period from late 1991 to early 1993 witnessed the most severe and widespread foreign exchange market crisis since the breakdown of the Bretton-Woods system 20 years ago."
The BIS
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