THE EVOLUTION AND PERSPECTIVES OF THE EURO’S INTERNATIONAL ROLE

Giuseppe Mastromatteo, Giovanni Battista Piattaluga

Risultato della ricerca: Contributo in rivistaArticolo in rivistapeer review

Abstract

In its start-up phase, many scholars argued that the euro would join or replace the dollar as an international currency. The use of the European currency in foreign trade and as a reserve currency, after rising significantly until 2007, has decreased considerably since the global financial crisis. The main reason for this decline is that, in recent crises, the euro area financial market appeared to be extremely fragmented. This reduced the liquidity of assets denominated in euros. One of the prerequisites for a currency to become an international currency was lacking.
Lingua originaleEnglish
pagine (da-a)423-446
Numero di pagine24
RivistaRivista Internazionale di Scienze Sociali
Volume2018
Stato di pubblicazionePubblicato - 2018

Keywords

  • Euro
  • Us Dollar
  • financial market integration

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