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Fabrizio Saccomanni: The global crisis and the future of the international monetary system

The financial roots of the crisis have been widely analysed. Here, I intend to focus more on the macroeconomic drivers. I will try to argue that they are ultimately connected to a number of long-standing features of the international monetary system such as it has evolved since the demise of the Bretton Woods regime. I will then review the main options available to reform the international monetary and financial system.