Fifty Years of the Deutsche Mark: Central Bank and the Currency in Germany since 1948

This book provides detailed independent analyses of the successes and limitations of one of the most successful economic relationships in recent history: the Deutsche Mark and the Deutsche Bundesbank.With European economic and monetary union approaching, the lessons to be learnt from the German experience are now more important than ever. The Deutsche Mark has been one of the most stable currencies in the world for decades.The combination of a sound monetary structure and an anti-inflationary monetary policy have been the bedrock for unprecedented German economic success.This success, however, has not been unlimited or without risk.Fifty Years of the Deutsche Mark will give future European montary policy-makers the invaluable benefit of the German experience. The book combines chronological articles with others which follow the developments of a specific issue over the entire 50-year period.Issues covered include the central bank constitution, the central bank's relationship with fisca