The decline of sterling and the restoration of the City

点击翻译按钮获取中文摘要

It has been said that the sterling as an international key currency had declined since inter-war-period. But sterling was not a mere kind of European currencies even after WWII. Sterling had filled the wider role than any other European currencies in post-war Europe. Therefore UK Treasury and the Bank of England tried to seek the revival of sterling, but with the expansion of euro-dollar transactions, the City started to enjoy the new market, namely, the City started to revive without the sterling restoration. After all, this situation seems to have allowed the demise of sterling.