RECENT DEVELOPMENTS IN THE INTERNATIONAL MONETARY SYSTEM AND THEIR IMPLICATIONS FOR INTERNATIONAL ECONOMIC RELATIONS Available to Purchase

1978 will probably turn out to be one of the most momentous years in the post‐war history of international monetary affairs. It was the year in which the leaders of the European Economic Community (EEC) made the first positive steps towards the establishment of a European Monetary System (EMS). It was also the year in which members of the International Monetary Fund (IMF) adopted the Second Amendment to the Fund's Articles of Agreement.