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"The dollar is currently the principal reserve currency in the world."
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Explore more quotes by Robert C. Solomon
"The United States as usual has a sizable deficit in the current account of its balance of payments, trade account and other current accounts, current account items."
"On private transactions, I'll just go very quickly now, a major difference between the United States and Euroland is that in Europe banks are much more important in financial transactions than in the United States."
"To the extent that the United States has, I don't like the word hegemony, the United States has influence around the world, I don't think that's based on to any significant degree on the fact that countries use the dollar as their major reserve."
"The reserve currency role seems to add prestige to an area and some people in Europe have talked about the desirability of the euro becoming an international reserve currency."
"In the United States, securities markets are much more developed than they are in Europe."
"There has been talk in Europe about American hegemony being somehow based upon the use of the dollar in the world. I just don't see that connection at all."
"Love can be understood only "from the inside," as a language can be understood only by someone who speaks it, as a world can be understood only by someone who lives in it."
"There's a stability and growth pact which was agreed for the eleven countries which tries to limit the size of budget deficits among the eleven countries."
"Back in those days, in the fifties and sixties, countries had balance of payment's deficits or surpluses, those were reflected much more than today in movements of reserves among countries."
"So if the euro, if Euroland is to become a reserve center, if the euro is to become a reserve currency, Euroland will have to have a deficit in its overall balance of payments."
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