Louvre Accord
(en)
an agreement, signed on February 22, 1987 in Paris, that aimed to stabilize the international currency markets and halt the continued decline of the US Dollar caused by the Plaza Accord; signed by France, West Germany, Japan, Canada, the US and the UK
By 1987 the dollar had devalued to levels that were jeopardizing Wall Street . in the same year a G7 meeting was held in Paris at which American officials pushed the opposite way, towards a strengthening of the dollar. At that meeting, which is now known as the Louvre Accord, Washington bullied the Europeans into accepting coordinated efforts to strengthen the dollar.
notable
7 years, 3 months ago