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Europe's currencies were allowed to float against one another within a narrow band.
Before 1986, only nonprofit hospitals were allowed to float tax-exempt bonds, which they used to build new facilities.
When exchange rates were allowed to float in the early 1970s London established itself as a currency-trading centre.
Most Western economists agree that the currency is undervalued, meaning that it would be stronger if it were allowed to float freely in relation to other currencies.
Some have argued that, if exchange rates were allowed to float, nothing further would have to be done officially to bring the external balance into equilibrium, but this is a minority view.
Starting in the summer of 2002, food prices were allowed to float; construction began in most cities for private markets; the North Korean currency, the won, was heavily devalued; and businesses like restaurants and small hotels were allowed to open.
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Long pegged to the U.S. dollar, the pound was allowed to float in January 2003.
Interest rates on bank deposits would be allowed to float to market value last.
These conditions are not present when the substrate is allowed to float.
The drachma would be allowed to float against the euro as soon as the banks reopen.
And only two private companies are listed as A-shares, though the government says more will be allowed to float.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com