It was observed in the past that international trade, both visible and invisible, presupposes the stability of foreign exchanges. This opinion, which prevailed for nearly two centuries, proved however wrong as international trade never reached the present levels despite very sharp and continuous fluctuations of foreign exchanges all over the world. As a matter of fact all currencies showed and show substantial fluctuations which induced those concerned to grant special facilities to those involved. In this way bondholders are allowed to secure reimbursement in various currencies on the basis of parities fixed in advance or later and not only in the currencies in which they subscribed, in special bonds or in the case of private companies in shares with various privileges for those concerned.
Η διατήρηση των διεθνών οικονομικών σχέσεων, παρά τις συναλλαγματικές διακυμάνσεις, επετεύχθη προς χάρη της εφαρμογής νέων τεχνικών μεθόδων και αποτελεσματικών συνδυασμών, οι οποίοι επί των ημερών μας θεωρούνται ευνόητοι και εύχρηστοι.
