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Towards new ‘de facto’ gold standard, British and German economic and financial diplomacy

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Towards new ‘de facto’ gold standard, British and German economic and financial diplomacy

Commentary: Towards new ‘de facto’ gold standard

By Willem Middelkoop in Aerdenhout

China wants to increase in the shortest time possible its gold reserves to at least 8,000 tonnes. This would put the country on par, in terms of the its gold to GDP ratio, with the US and European Union. Should the need arise, this could open the way for a joint US-EU-China gold revaluation to support the financial system. The precious metal is making a remarkable comeback to the world financial system, and a new ‘de facto’ gold standard is being born without any formal pronouncements by world leaders.

Read the full commentary on the website.

 

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Meeting: British and German economic and financial diplomacy – An international comparison

Thursday 25 July, London , 13:00 BST

Jakob von Weizsäcker, chief economist in the German finance ministry, gives an overview of the state of the German economy. Along with Veda Poon, director of international finance at the UK Treasury, the speakers at the roundtable will outline how Britain and Germany can build on their economic and financial links.

To request to attend the meeting, please contact enquiries@omfif.org.

 

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