Prof Steve Keen ~ The International Financial Architecture

My speech to the Meeting of Finance Ministers of Latin America in Quito on November 29th 2013. I explain Keynes's proposal for an international unit of account called the Bancor, and support Zhou Xiaochuan, the Governor of the Central Bank of China, in calling for its introduction. I also argue that Latin America should in the meantime develop its own unit of account for intra-CELAC trade.