The Plaza agreement (English Plaza Accord) was closed on 22 September 1985 in the Plaza hotel in New York between the Ministers of Finance and of the central banks that of France, Germany, Japan, the united kingdom and the United States.

Due to the Latin American debt crisis and the collapse of numerous American savings banks they beschosseen the concentrated devaluation of the US Dollar: The United States lower their key interests, while the other central banks repel their Dollarreservern. The dollar rate sank in the next two years around approximately 50%, Yen and German Marks was revalued.

Driving Kraft behind the agreement was American president Ronald Reagan, which had advanced a policy of the strength. Beside armament its goal at the beginning of the presidency was also the stabilization of the dollar. It became clear too late that this politics worsened the export chances of the kriselnden American automobile industry. Now it wanted to against-steer.

The overestimation of the Yen following from the Plaza agreement was a cause of the Bubble Economy in Japan, when solid money flowed into the country and in particular the share and property market, in order to profit further from the rising Yen to. In the Louvre agreement now again the consequences of the Plaza agreement should be intercepted, and the dollar again revalued, although less drastically. Nevertheless that knew the black Friday, which does not prevent crash of the Dow Jones index on 19 October 1987, and also not the following blow-out of the Bubble Economy in Japan 1989.

Related links

Original text of the agreement

Articles in category "Plaza agreement"

We found here 3 articles.