Floating Exchange Rates For some, the collapse of Mexico's economy proves that floating exchange rates and markets without capital controls are deadly. Others find the crash of the European exchange-rate mechanism (ERM) in 1993 to be proof that targeted rates will always be overturned by the free market. Many see the breakup of Bretton Woods as the failure of fixed rates. Yet others believe monetary unification in Europe is the only way to achieve economic and …showed first 75 words of 2472 total…

…showed last 75 words of 2472 total…April 1995: 64. Friedman, Milton. "Free-Floating Anxiety." National Review 12 September 1994: 32-36. _________,"Introduction." The Merits Of Flexible Exchange Rates. Ed. Leo Melamed. Fairfax, Virginia: George Mason University Press, 1988. xix-xxv. Hornblower, Margot. "No One Ever Said It Would Be Easy." Time 1 March 1993: 32+. "Interview with Alan S. Blinder." The Region December 1994. Online. Kimberely. Lewis, Flora, et al. "Is Monetary Union a German Racket?" New Perspectives Quarterly Winter 1993: 26-38. Magnusson, Paul. "The IMF Should Look Forward, Not Back." Business Week 3 October 1994: 108.