First published in hardback in 1994 and selected by the American Library Association as an Outstanding Academic Book, the revised and updated paperback edition includes the Barings crisis and the report by the Bank of England on Barings Bank; up-to-date information on the state of Japanese banking; changes in the financial scene in the United States; the UK housing market and the problem of negative equity. The paradox of why more coins than ever before are required in an increasingly cashless society is clearly explained, as is the role of the new Euro coin as the lowest common denominator in Europe's controversial single-currency system. The final section provides evidence to suggest that for most of the world's richer countries, the era of persistent inflation may well be at an end. This new edition is updated and takes account of important recent developments such as the independence of the Bank of England, the introduction of Euro notes and coins from January 1 2002, and developments in electronic money.