#rve

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. ↗

— Robert C. Solomon

#add #area #becoming #currency #desirability

There is a European Central Bank, of course, established and it has the structure similar to the Federal Reserve system, not precisely the same but similar. ↗

— Robert C. Solomon

#central #central bank #course #established #european

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

If a currency is to become a growing, an increasing reserve currency, there has to be not only a demand for it there has to be a supply of it. ↗

— Robert C. Solomon

#currency #demand #growing #increasing #only

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. ↗

— Robert C. Solomon

#become #center #currency #deficit #euro

The dollar is currently the principal reserve currency in the world. ↗

— Robert C. Solomon

#currently #dollar #principal #reserve #reserve currency

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

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

If you would have a faithful servant, and one that you like, serve yourself. ↗

— Benjamin Franklin

#like #servant #serve #would #you