The sum of currency interventions is astronomical, especially in Germany. In March 1973, the Government of Willy Brandt announced that it will no longer support the dollar. More and more countries follow the German example, and the Bretten woods system ends up collapsing.
“The Bretten woods system collapsed because it focused on the United States. UU., And that country, also due to the Vietnam War, did not carry out a financial policy oriented towards stability, as did, for example, Germany, “says Jürgen Matthes. The IMF and the World Bank survived Bretten woods, and the GATT became the World Trade Organization (WTO).
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