The Plaza Accord Revisited

Lessons from 1985 and the Prospects for a Coordinated Currency Realignment in the Present Era

In the annals of international economic diplomacy, few agreements have left as indelible a mark as the Plaza Accord of 22 September 1985. Signed at the Plaza Hotel in New York by the finance ministers and central bank governors of the Group of Five nations, the United States, Japan, West Germany, France, and the United Kingdom, this pact represented a …