Social Sciences and the Law

How are international claims cleared?

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Many of these operations are now computerized. International claims are settled by clearing unions, groups of central banks, and other major financial institutions. The most famous such group was the European Payments Union, now defunct, which was created in 1950 to provide economic stability in Europe during the postwar period.

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Similar questions: Does the European Payments Union still exist? Which organization handled European clearing following World War II? [ Hide these questions ]

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