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Contents
- Preliminary Material
- Main Text
- Part I The Concept of Money and Monetary Systems
- Preliminary Material
- 1 The Concept of Money
- Preliminary Material
- A Introduction
- B The Meaning of ‘Money’—A Functional Approach
- C The State Theory of Money
- D The Institutional Theory of Money
- E Money as a Chattel
- F Denomination and the Unit of Account
- G Universal Means of Exchange
- H Money as a Store of Value
- I Money as a Commodity
- J The Modern Meaning of Money
- K The Status of Money as a Means of Payment
- L Electronic Money
- M The Status of Foreign Money
- N Eurocurrencies
- O Virtual Currencies
- P Central Bank Digital Currencies
- Q Local Currencies
- 2 The Organization of the Monetary System
- Preliminary Material
- A Introduction
- B Sterling within the International Monetary System
- C Sterling within the Domestic Legal Order
- D Types of Currencies
- E Legal Tender
- F The Issue of the Currency in the United Kingdom
- G The Definition of the Unit of Account
- H Changes in the Monetary System
- I Revaluation and Devaluation
- J The Existence of Distinct Monetary Systems
- Part II The Private Law of Monetary Obligations
- Preliminary Material
- 3 The Character of Monetary Obligations
- 4 Monetary Obligations and the Conflict of Laws
- 5 The Interpretation of Monetary Obligations—Initial Uncertainty
- 6 The Interpretation of Monetary Obligations—Subsequent Uncertainty
- 7 The Performance of Monetary Obligations
- Preliminary Material
- A Introduction
- B The Concept of Payment
- C The Money of Payment
- D Payment and Private International Law
- 8 Legal Proceedings and their Effect upon Monetary Obligations
- Part III The Principle of Nominalism
- Preliminary Material
- 9 Monetary Obligations, Liquidated Sums, and the Principle of Nominalism
- Preliminary Material
- A Introduction
- B The Foundations of Nominalism—Competing Theories
- C The Historical Development of Nominalism
- D The General Nature of Nominalism
- E Nominalism in Specific Contexts
- 9.25
- English law debts
- Foreign law debts
- Interest and damages pre-Sempra Metals
- Interest and damages post-Sempra Metals
- Negative interest rates
- Damages for domestic monetary depreciation
- Damages for foreign monetary depreciation
- Specific statutory provisions
- Implied rights to interest
- Discharge and termination of contracts
- Collapse of currency
- Specific performance
- 10 Monetary Obligations—Unliquidated Amounts
- 11 Excluding the Effects of Nominalism
- 12 Nominalism, Legislation, and Public Policy
- 13 Nominalism, Private International Law, and the Lex Monetae Principle
- Part IV Exchange Controls, Exchange Rates, and Sanctions
- Preliminary Material
- 14 Exchange Control—The UK Model
- 15 Exchange Control under the International Monetary Fund Agreement
- Preliminary Material
- A Introduction
- B Legal Character of Article VIII(2)(b)
- C Public Policy under the IMF Agreement
- D The Scope and Interpretation of Article VIII(2)(b)
- 15.10
- 15.11
- 15.12
- 15.13
- 15.14
- 15.15
- 15.16
- 15.17
- 15.18
- 15.19
- 15.20
- 15.21
- 15.22
- 15.23
- 15.24
- 15.25
- ‘Contracts’
- ‘Exchange contracts’
- ‘Involve the currency’
- ‘Of any member’
- ‘And which are contrary to the exchange control regulations’
- ‘Of that member’
- ‘Maintained or imposed consistently with this agreement’
- ‘Shall be unenforceable’
- 16 The Private International Law of Exchange Control
- Preliminary Material
- A Introduction
- B The Status and Application of Foreign Exchange Control Regulations
- C Contractual Consequences of Exchange Control
- D Exchange Control and Rights of Property
- E Exchange Control and Money Laundering
- F Foreign Exchange Control as an Unenforceable Prerogative Right
- 17 Sanctions and Monetary Obligations
- 18 Exchange Rates
- Part V Public International Law of Money
- Preliminary Material
- 19 Monetary Sovereignty
- 20 The Protection of Foreign Currency Systems
- 21 The Protection of Foreign Monetary Institutions
- 22 International Rules of Monetary Conduct
- Preliminary Material
- A Introduction
- B Enforcement of Treaty Rules
- C Stability of Exchange Rates
- D Floating Exchange Rates
- E Monetary Pegs
- F Dollarization
- G Manipulation of Exchange Rates
- H Discriminatory Currency Arrangements and Multiple Currency Practices
- I Convertibility for Current International Transactions
- J Bilateral Arrangements
- K Trade Agreements
- 23 The Monetary Law of Interstate Obligations
- Part VI Monetary Unions and other Forms of Monetary Organization
- Preliminary Material
- 24 The Nature and History of Monetary Unions
- 25 Historical Background to EMU
- 26 EMU and the Treaty on European Union
- 27 The Institutional Framework of Monetary Union
- Preliminary Material
- A Introduction
- B Institutional History
- C The European Central Bank and the European System of Central Banks
- 27.07
- The ECB
- The ESCB
- Monetary policy and price stability
- The national central banks
- The ECB and the financial crisis
- The Euro Group
- ECOFIN
- The eurozone debt crisis
- 28 The Single Currency and its Treaty Framework
- 29 The Euro Regulations
- 30 Monetary Union and Monetary Obligations
- 31 The Euro and Monetary Sovereignty
- Preliminary Material
- A Introduction
- B Member States and the Transfer of Sovereignty
- C Monetary Sovereignty in the Eurozone
- D Monetary Sovereignty and the European Central Bank
- E Monetary Sovereignty and the Union
- F Monetary Sovereignty and External Relations
- G Monetary Sovereignty and the United Kingdom
- H Other Opt-outs
- I Monetary Sovereignty and the Federal State
- J Monetary Sovereignty and Exchange Controls
- 32 Withdrawal from the Eurozone
- 33 Other Forms of Monetary Organization
- Part I The Concept of Money and Monetary Systems
- Further Material
