"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."

Finance, Financial, Banks, Difference, Europe

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"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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Explore more quotes by Robert C. Solomon

"Chances are the movements of the euro as against the dollar will be relatively moderate."

Will

"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."

Balance

"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."

Balance

"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."

Balance

"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."

People

"The major material advantage, financial advantage from having a reserve currency is that between 200 and 300 billion dollar bills, that may be twenty, fifty, hundred dollar bills as well as ones, exist in the world - a lot of them in Russia as you all know I'm sure."

Finance

"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."

Love

"Another question has been raised rather widely in Europe, in Japan as well as in the United States is what, to what extent will the euro become a reserve currency."

Geography

"In the United States, securities markets are much more developed than they are in Europe."

Geography

"The dollar went up some eighty percent in real terms as I recall now or something like that - from '80 to '85."

Now