The Euro at Five

The Euro at Five

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The euro is the only major currency to be created in the 20th century and now stands on the brink of becoming one of the world's two reserve currencies in the 21st century. The euro's use and development shape the entire agenda for ever-closer union in Europe and for transatlantic relations. As the currency bearing the brunt of the dollar's decline from its overvaluation of the late 1990s, the euro's value and management will be critical to the successful adjustment of international imbalances. And as a long-run competitor and collaborator with the dollar, the euro creates the potential for a bipolar international monetary system, offering unprecedented challenges and opportunities to economic policymakers. This important new book explores the euro's international role, its record thus far, and its future.... corporations, in particular those from the United Kingdom, the United States, and Canada, have taken advantage of the greater size and ... To answer this question, I refer to four key features of the post-Bretton Woods regime. ... Second, exchange rates are determined by market forces and ought to be in line with economic fundamentals; as such, their ... Third, because exchange rate markets may be very volatile and may produce disorderly movements among the major currencies, anbsp;...

Title:The Euro at Five
Author: Adam Simon Posen
Publisher:Peterson Institute - 2005-01-01

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