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be to havp t.he advant.aged countrles to revaluat.e t.hei r ourrenoies fn order to redlino t.hei r siirpluses so t.hat. t. h e disadvant.aged r.ount.rlea are favoured. Tn order to have t.he guarant.ee t.hat. t.his would happen, t.he group of oountries mlght. agree 1n advanoe t.hat no country's ext.ernal t.rade sur plus wit.h respect. t.o ot.her r.ount.r! es In t.he group can exoeed a certa1n threshold. Should t.his happen t.he sur plus country must. aut oma t.! ca 1 1 y reval uate i t. s currency and/or t.ake ot.her measures which yield t.he same result. of redncing it.s surplus. Th! s, of coiirse won ld be a short. - term measure:    1f

t.he ext.ernal Imha lances are of a struct.ural nat.ure, t.hen ot.her morę radlcal measures should he t.aken.

The foregoing, of course, 1s only an example. Tt. 1s ais o import.ant. t.o emphasize t.hat. t.he measures t.aken t.o contro) and regu la t.e rat.es of exchange (wit.h In and among economlc areas) should essent.lally have t.he naturę of a deterrence. Tf oountries 1nvolved know t.hat. t.heię possihle at.t.empt.s to break t.he agreement.s (belng t.oo 'aggressive' and non co-operat. ive t.oward t.he other part.ners) will he frust.rat.ed hy automat, i c and Inescapahle offset, t. ing measures,    they will be less

induced to be non co-operat. IveTt. 1s for t.his reason t.hat. automat. 1c measures are import, ant. flovernment. s mlght. seler t. a nnmher of paramet.ers and est.ahllsh t.hat. as s o o n as t.hese paramet.ers reach predet.ermined cr1t. 1 cal values offset, t. Ing measures will automat. 1 ca 1 1 y t.aken. (3)

There is anot.her Import.ant. aspect. t.hat. has t.o be t.aken int.o account. Tf oountries t.end to impleraent. homogeneous policies and f!x common t.arget.s and paramet.ers ( e . g .    « cert.ain ratę of

unerap 1 oyment. which oannot. he exceeded), i t. is elear t.hat. t.he oountries which begin wit.h a worse 1 n 1 t. i a 1 sit.uat. 1 on would be pnt. under st.ronger st.ress and pressure t.o per form in such a way t.o ful fi 11 t.he i r    comi t.nents . Ot.her cou li t. r i es '

sol 1dar1 t.y, i n t. h 1 s rasę, would he oruclal . Tt. conld t.ake t.he form of creating a pool    of funda devot.eri to help oountries

enoount.erlng slgnifioant. difflculties; t.he pool should he fed by transfer payment.s coming from t.he oountries t.hat. at. any giVen t.1me are het ter off.

However, in order to overcome t.his k1nd of difflculties i t. is not. w1'se t.o rely only on meohanlsras hased on solldarity. T t. is a 1 s O neoessary to be reallstlc and he aware of t.he fant. t.hat t.he ohances of suocess of t.he expans1ve po 1 1 o 1 es grow if they are deolded and implement.ed In a careful and gradua I way, jnst. in order t.o avo1d t.hat. count.rles have to suf fer unbearable pressures and st.ress oaused by hav1ng 1 n i 11 a 1 1 y fixed overamh 11.1 ous    targets. Gradual poi 1o1es may be less

appealing in t.hat. t. hey offer less impress1ve out. o om es in t.he short run; hut. cert.alnly t.hey help avo1d t.he r1sk of helng grossly    unsuccessfu 1 and, t.hen, t.hey promlse morę

(3) For 1 n s tance, some of t.he pa ramę t. ers seleot.ed hy RFC oountries might. be:    Import.s and export.s (among F.F.C count.rles

and het.ween F.RC and ot.her count.rles); employment. • and unemp 1 oy men t. rat.es ( d 1 saggrega t.ed wit.h respect. to age groups, sex, eto.); average wage-rat.es, etc.