| Summary: | The Euro-currency markets have expanded very rapidly since 1966. This rapid development has drawn the attention not only of those who are responsible for monetary policy, but also of economists who are by no means in agreement concerning what takes place on the market for Euro-loans. The present work analyses the Euro-market in order to draw some concrete conclusions. A description of the Euro-dollar market is provided and analogies at the national level are made. The author then considers the effect of the Euro-dollar market on the volume of credit before looking at the American balance of payments and Euro-dollar loans. Finally, the determination of interest rates on the Euro-dollar market is examined as well as the issue of control.
JEL: E44, E51, E52
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