This books explains, on the basis of archival evidence and a simple economic model, why and how the gold standard collapsed in the interwar period. It also reveals how bilateralism and dirigisme in international financial relations emerged from the collapse of the universal gold standard, and how this poisoned international relations.

'Alessandro Roselli has unearthed intriguing documents in the Bank of Italy's archive revealing the developing Nazi German plan of the early WWII years for Europe's future economic and financial organization. The new Europe would be run by Germany and Italy. Showing clearly how the elements of the plan had their origins in the turmoil of the interwar years, he has produced a scholarly, fluently-written, and genuinely fascinating account and closes with thoughts on what eventually happened in Europe.'

- Forrest Capie, Professor Emeritus of Economic History, Cass Business School, City University, London, and author of The Bank of England, 1950s to 1979