MONEY: A Floating Fellowship

One crucial question raised by the latest monetary crisis was less financial than political: Could the nine members of Europe's Common Market agree on a joint solution to the speculative assault on the dollar and some of their own currencies? If the answer turned out to be no, the drive toward a more tightly knit Continent would have been dealt a major blow. But last week six of the nine worked out a plan that they could accept—and the other three eventually may join. As a result, official currency exchanges are scheduled to reopen this week, after an extraordinary...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!