Since the end of 1958, when the principal European currencies reverted to external convertibility on current account, a number of steps have been taken both in the United Kingdom and on the Continent to remove restrictions on international capital movement, and the prospects for the restoration of a truly international security market have considerably improved. Public discussion of the part which the United Kingdom might play in such a market was stimulated by the Brussels negotiations, and continues in spite of the breakdown in those negotiations. Another factor which has served to focus interest on the international capital markets has been the additional strains placed upon the international balance of payments by foreign bond issues in New York.
Published on
01 June 1963
International investment