system kasy emisyjnej

During the second half of 2001, the pressure mounted on the currency board but there was no clear way out.

"Since 1849, there's never been a problem with one of these currency boards," he said.

At around this time Lithuania also established a currency board.

"Indonesia really doesn't have the characteristics that one would look for when they think of a currency board."

A currency board works to maintain a fixed exchange rate.

Still, a currency board would expose the economy's most vulnerable side.

"The currency board is one way of overcoming the crisis."

He was not involved in the launching of the currency board.

Most analysts concede, though, that a currency board might work.

Economists, however, doubt that a currency board would work in Russia.