7. The agreement amended Article 4 of the IMF Articles of Agreement
by committing IMF members to adopt economic policies supportive
of monetary stability, by legitimizing several exchange rate regimes
including floating and the cooperative European "snake"
system, by welcoming a possible return of the fixed par value
regime (under conditions which required U.S. agreement), and by
committing monetary authorities in the summit countries to exchange
rate intervention to combat fluctuations not caused by fundamental