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"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."
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"Somebody said that I am the last American living the tragedy of Europe."
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Personal Development
"Spring has many American faces. There are cities where it will come and go in a day and counties where it hangs around and never quite gets there. Summer is drawn blinds in Louisiana, long winds in Wyoming, shade of elms and maples in New England."
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"An insuperable obstacle to rapid transit in Africa is the want of carriers, and as speed was the main object of the Expedition under my command, my duty was to lessen this difficulty as much as possible."
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"Africa had a way of coming back and simply covering everything up again."
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"Tel Aviv is new, built on the sand dunes north of Jaffa in the 1890s, about the same time Miami was founded. The cities bear a resemblance in size, site, climate, and architecture, which ranges from the bland to the fancifully bland."
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"Geography is about maps, but biography is about chaps."
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"There isn't a parallel of latitude but thinks it would have been the equator if it had had its rights."
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"We have 45,000 square miles of geography in Ohio."
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"Oh, the ignorance of us upon whom Providence did not sufficiently smile to permit us to be born in New England."
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"A journey of four hundred and thirty miles can be made in any part of the United States, but in Turkey it takes as many days."
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"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."
Growth
"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
"The dollar went up some eighty percent in real terms as I recall now or something like that - from '80 to '85."
Now
"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."
Nation
"Chances are the movements of the euro as against the dollar will be relatively moderate."
Will
"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
"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."
Nation
"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
"In the United States, securities markets are much more developed than they are in Europe."
Geography
"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
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