The international euro

Article Abstract:

The new euro currency is likely to be a major currency on international markets, ranking second to the US dollar. Dollars are widely used in world trade, accounting for some half of invoices. The US benefits in a number of ways from the dominance of the dollar. Some analysts see the euro as likely to challenge the dollar and to be a strong currency, while others see inertia and the need for the euro to build up a track record as likely to be initial obstacles. There have been calls for international cooperation to prevent currency instability.

Other General Government Support, Coinage & Currency, Money, Western Europe, Monetary unions

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An alternative viewpoint

Article Abstract:

Bergsten argues that the Group of 7 should act to raise the value of the yen against the US dollar, but that may happen without intervention. The US favors the current decline of the yen because it will control inflation. A cheaper dollar has not been effective in lowering the trade deficit.

Column, United States economic conditions, Yen (Japan)

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