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timberland pas cher openness of the City of London, the markets grew quickly, creating a similarity of interests between the City and New York finance. Other countries were forced to accept the implications of the new US unilateralism, because of the renewed centrality of the USA in the global political economy. In particular, to the US centrality in the international financial system, which was caused by the international role of the dollar as the major reserve currency and international unit of account; by the depth and liquidity of the US financial markets;British support for the Eurodollar market was crucial, because it provided a physical base for the market, permitting it to operate in London, free from regulation. This support stemmed from a kind of a hegemonic ?lag? in the British state, in which financial officials and institutions, (particularly the Bank of England), remained strongly committed to promoting London?s role as an international financial centre, long after Britain?s days of financial predominance was over . As British capital markets were required upon the international use of sterling to defend the country?s weak balance of payments in the 1950s and 1960s, British officials recognised that London?s internationalism could best survive by allowing bankers to operate in foreign currencies, especially the US dollar. Once the market emerged.