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The currency peg collapsed anyway.
The currency peg means it cannot raise interest rates.
The currency peg was a sign of commitment to reform.
scrambled to find ways to preserve the currency peg until it was too late.
First, never trust a central bank's commitment to a currency peg.
"It suggests to me that support for keeping the currency peg is diminishing".
For all the talk, China has shown no inclination to adjust its currency peg.
Her chief economist, Olivier Blanchard, said his scepticism about the currency peg had been proved wrong.
Persuading China to loosen its currency peg to the dollar may sound like mission impossible.
They cannot rein in their banks as long as they maintain their currency peg.
The Estonian government has already gone to extreme lengths to defend the currency peg.
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