- As the number of U.S dollars held in the new Eurodollar market grew, it soon became an important source of lending capital for Governments and large Organizations around the World..
- The term EURODOLLAR defines any instance of U.S dollars deposited in a bank outside the United State Of America. Precisely, the source of much of the foreign held dollars was crude oil.
- The first attack on Bretton Woods came in the form of what is called the EURODOLLAR Market.
- Coincidently, This period also marked the beginning of the COLD WAR between the east and the west.
- Bankers got worried that their bank accounts could be siezed by the U.S.The soviet union opted to deposit its U.S dollars in Europeans banks out of the reach of the US governments.
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