Floating exchange rates largely became the global norm in the following decades. [fact]

    Floating exchange rates largely became the global norm in the following decades. [fact]
  

Floating exchange rates largely became the global norm in the following decades, with the remarkable exception of Western Europe. Here, a diverging neoliberal conception became influential through the increasing power of the West German Bundesbank and the creation of the European Monetary System—an experiment which continues to divide neoliberal opinion internally.
Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, loc. 448