#ed

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. ↗

— Robert C. Solomon

#become #been #currency #euro #europe

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. ↗

— Robert C. Solomon

#back #balance #countries #days #deficits

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

— Robert C. Solomon

#europe #markets #more #much #securities

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. ↗

— Robert C. Solomon

#between #difference #europe #financial #go

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. ↗

— Robert C. Solomon

#between #billion #bills #currency #dollar

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. ↗

— Robert C. Solomon

#among #budget #budget deficits #countries #deficits

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. ↗

— Robert C. Solomon

#around #based #countries #degree #dollar

Society is well governed when its people obey the magistrates, and the magistrates obey the law. ↗

— Solon

#law #magistrates #obey #people #society

Let no man be called happy before his death. Till then, he is not happy, only lucky. ↗

— Solon

#called #death #happy #his #lucky

The doorstep to the temple of wisdom is a knowledge of our own ignorance. ↗

— Benjamin Franklin

#doorstep #ignorance #knowledge #our #own