COULD EUROPE CHALLENGE THE US FOR CONTROL OF THE WORLD ECONOMY?
Not yet the almighty euro
After 50 years in which the dollar was the world’s reserve currency, financial confidence in the United States, and with it the dollar, is waning. But the euro is still a long way from being a viable alternative reserve currency for the world economy.
by Howard M Wachtel
WILL a strong euro as the spearhead of an enlarged European Union damage the dollar-based hegemony that has ruled since the second world war? This is now an urgent question since the United States war against Iraq, and the euro’s increased strength against the dollar since 2002. Europe’s quest (...)
This article is 1903 words.