Speaking at an Official Monetary and Financial Institutions Forum event in London, Jürgen Stark, a member of the executive board of the ECB, said the growing economic weight of emerging economies has thrown the international monetary system into disequilibrium.

"The international monetary system after Bretton Woods was characterised by flexible exchange rates between the most important currency blocs," he said. "The system only moved into disequilibrium as a result of the growing economic weight