But it is unlikely, yet, to be a full Greek- and Irish-style bail-out agreement supported by the European financial stability facility and the InternationalMonetaryFund.
The monetary system of the Western World is based on the agreement on the establishment of the InternationalmonetaryFund (IMF), which was made at Bretton Woods, New Hampshire (USA), in 1944.
It has met the requirement of Clause 8 of the Agreement of the InternationalMonetaryFund three years ahead of time by having realized free exchange of the RMB under current account.