2025/09/10 by Nicolas Barbaroux, Enrique Jorge‐Sotelo, Dominique Torre · 1 voice
Arts and Humanities · Medicine · #French Historical and Cultural Studies #Media, Journalism, and Communication History #Medicine and Dermatology Studies History
paper · doi:10.1080/09672567.2025.2549387
openalex publication_date 2025/09/10 · openalex created_date 2025/10/10 · openalex updated_date 2026/06/15
In 1929, Spain called upon the financial expertise of French “money doctors” in its attempts to stabilise the peseta. Charles Rist, ex-Deputy Governor of the Banque de France, and Pierre Quesnay, General Manager of the Bank for International Settlements, were consulted. Both supported stabilisation over revaluation. The differing advice related to the implementation of the stabilisation plans reflects the fundamental tensions in central banking theory during that period. In their turn, domestic factors shaped both the success and the reception of the French doctor’s advice. The changing political backdrop along with institutional and money market constraints conflicted with their recommendations.