The sovereign debt problems in the peripheral economies of the euro zone has started to pose a serious threat to the … optimism and grand vision that marked its launch. This paper is an attempt to understand the implications of the ongoing euro … significance to Europe and to the rest of the world. The stage seems set for a change in the way in which the euro zone will need …

This paper reports the European experience with a basket currency, the ECU. The ECU was initially introduced as a … initiatives and use of the ECU for denomination of financial instruments. In practice, it turned out that a basket currency …. From an economic view point, weights depend critically on the purpose of the basket currency: is it a reference indicator …

This paper examines the motivation for, and the success of, regional efforts in Asia to promote local currency bond … markets. The analysis demonstrates that Asian local currency bond markets made substantial gains as a region going into the … promoting local currency bond markets and the gains that have been made to date. While most of the initial motivations for …

harmonization and coordination of regulation and supervision, with a strong focus on maturity and currency mismatch problems, would …

conform to the Euro norms. It has used the results of some US based study and has applied the transfer of benefit method from …

predominantly influenced by the US dollar, with the euro slowly gaining in significance as well. …