Mr Stark discusses the worldwide currency situation and international monetary cooperation Speech by the Deputy Governor of the Deutsche Bundesbank, Dr Jürgen Stark, to ELEC in Kronberg on 4/12/98. I Anyone comparing the global economic policy debate at the end of 1998 with the debate last year will notice not only a number of similarities but also some striking differences.
It is true that there was already a debate under way at that time on the crises of some countries in South-East Asia. In fact, President Tietmeyer spoke in depth about them to ELEC pointing out potential domino effects. A general optimism prevailed in the public debate, however, particularly in respect of future developments in the US economy.