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FRENCH Over the past 40 years, Bernard Schmitt, Emeritus Professor of Monetary Economics of the Universities of Fribourg (Switzerland) and of Bourgogne (France), has developed an analysis of the current system of national and international payments. Together with Alvaro Cencini, Professor Emeritus of Monetary Economics at the University of Lugano (Switzerland), he has been proposing a new and well-structured explanation of the causes of both national and international monetary disorders…

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