The euro is the second most important global currency after the US dollar. However, its international role has not … increased since its inception in 1999. The private sector prefers using the US dollar rather than the euro because the financial … market for US dollar-denominated assets is larger and deeper; network externalities and inertia also play a role. Increasing …

The paper evaluates the present and future international currency status of the US dollar, the euro and the yen. In … determinants for the continuous dominance of the US dollar are analysed in order to assess the sustainability of this regime. Since … integration of European financial markets emphasizing the enormous structural changes that came about since the euro has been …

For nearly a century the US dollar has been unchallenged as the sole and later the most important reserve and … intervention currency in the world. The dollar became such an important currency after the shift from the British pound which …, during the gold standard, was the world's reserve currency until the first decades of the XX century. The dollar retained its …

Fund (IMF), was supposed to support the member states of the euro area which had been hit hard by a sovereign debt crisis …. For that purpose, economic adjustment programs were drafted and monitored in order to prevent the break-up of the euro …, the danger of a renewed crisis in the euro area was growing. The European Stability Mechanism (ESM) together with the …

force in world capital markets, although the importance of EU monetary policy decisions has been increasing and a Euro bloc …