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From Encyclopedia Britannica

World Bank
In July 1944, representatives from 45 countries met at Bretton Woods in New Hampshire, USA, to discuss the postwar establishment of major international institutions whose purpose would be to facilitate international cooperation and to improve the stability of the world economy following the disastrous events and consequences of economic mismanagement during the interwar years (for a fascinating account of the role played by John Maynard Keynes at the Bretton Woods conference, see R. Skidelsky, John Maynard Keynes: Fighting for Britain, London: Macmillan, 2000). In retrospect, it seems that the ‘Great War’ which began in August 1914 finally came to an... more...

Related Topics: World Bank Group, Central bank, Retail banking, Bank of America, Bank run, European Central Bank