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The Future Role of the Euro

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  • De Vries, Jakob

Abstract

Although the euro has stimulated European financial markets by lowering the barriers to cross-border transactions, thus encouraging the emergence of a money market and a pan-European private bond market; the euro-denominated asset market is far from the existing types of international markets for the dollar. In the world currency markets, the emergence of the euro has not changed the relative position of the old European currencies vis-à-vis the dollar and the yen. And the shares in the official reserves of Central Banks also remained stable. In the future, three questions arise, which this article tries to answer: Do Europeans want the euro to become an international currency? Is the euro able to occupy such a position?If the euro could acquire an international status, would this contribute to improving the stability of the international monetary system?

Suggested Citation

  • De Vries, Jakob, 2005. "The Future Role of the Euro," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue 5 (Winter, pages 203-207.
    • Handle: RePEc:zbw:espost:193464
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    References listed on IDEAS

    as
    1. Gabriele Galati & Kostas Tsatsaronis, 2001. "The impact of the euro on Europe's financial markets," BIS Working Papers 100, Bank for International Settlements.
    2. Kirrane, Chris, 2003. "The IMS and the Euro," MPRA Paper 88751, University Library of Munich, Germany.
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    More about this item

    Keywords

    Euro;

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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