In France, the deregulation of capital markets, carried out by Pierre B�r�govoy, Economics and Finance Minister, between 1984 and 1986, led to the creation of money-market instruments, of an interest-rate futures market, MATIF, of an equity options market, MONEP, the streamlining of sovereign debt management, with multiple-auction bond issues and the creation of a primary dealer status.
32.
Matthew C . Klein of Bloomberg's " The Ticker " agreed with James Tobin that " the current marriage between deposit-taking and credit creation was itself a historical accident-- and it's a union that hasn't worked out so well . " In Sweden, Andreas Cervenka, a Svenska Dagbladet columnist, describes the proposal that'the state is taking over the creation of money'as pure dynamite.
