The Euro in the International Monetary System after the Global Financial and Economic Crisis and after the European Public Debt Crisis

Pompeo Posta

Chapter 4 in Europe and the Financial Crisis, 2011, pp 74-90 from Palgrave Macmillan

Abstract: Abstract The creation of the euro, more than ten years ago, was accompanied by the expectation that it would play a significant role in the international arena. Some observers even argued that it might have challenged the international role of the $US (hereafter: dollar). Data suggest, however that while the use of the euro as a reserve currency, as a vehicle currency or as a unit of account has been higher than that of legacy currencies, it did not really acquire an international rank.

Keywords: Euro Area; European Economic Community; Current Account Deficit; Reserve Currency; International Currency (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-30500-7_5

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DOI: 10.1057/9780230305007_5

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