Will the Euro Ever Replace the US Dollar as the Dominant Global Currency?

Dehesa, Guillermo de la (2009) Will the Euro Ever Replace the US Dollar as the Dominant Global Currency? Elcano Newsletter (60). 21 p.. ISSN 1698-5184

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Abstract

There are two major handicaps that will make very difficult for the euro to overtake the US dollar as a dominant currency. First, the EA still has a very fragmented banking and capital market, which makes it more difficult to fully exploit economies of scale and of scope and network externalities. The second is that since the EU and the EA are only unions of independent nations and not a federal state, it will be extremely difficult to overtake the US dollar and maintain a dominant international role while the governance of the EU and EA remains unchanged.

Item Type: Article
Additional Information: Estudio sólo disponible en inglés
Uncontrolled Keywords: Economía y Comercio Internacional
Subjects: INTERNATIONAL COOPERATION > INTERNATIONAL RELATIONS > SINGLE EUROPEAN MARKET.
PUBLIC FINANCE; BANKING; INTERNATIONAL MONETARY RELATIONS > CURRENCIES; FINANCING > MONETARY POLICY.
PUBLIC FINANCE; BANKING; INTERNATIONAL MONETARY RELATIONS > INTERNATIONAL MONETARY SYSTEM > FOREIGN EXCHANGE MARKETS.
PUBLIC FINANCE; BANKING; INTERNATIONAL MONETARY RELATIONS > INTERNATIONAL MONETARY SYSTEM > INTERNATIONAL MONETARY SYSTEM.
CULTURE; SOCIETY > SOCIETY > LEADERSHIP
Divisions: Real Instituto Elcano, RIE
Depositing User: Jorge Horcas Pulido
Date Deposited: 24 Mar 2012 16:57
Last Modified: 24 Mar 2012 16:57
URI: http://biblioteca.ribei.org/id/eprint/1793

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