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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. ↗

— 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

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

— Robert C. Solomon

#chances #dollar #euro #moderate #movements

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

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

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

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