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"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."
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Explore more quotes by Robert C. Solomon
"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."
"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."
"Some countries that are close to Europe that already hold Deutschemarks, clearly would automatically hold euros, those are countries in Eastern Europe mainly, a few countries in Africa."
"The dollar went up some eighty percent in real terms as I recall now or something like that - from '80 to '85."
"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."
"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."
"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."
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