The Evolution and Perspectives of the Euro’s International Role

Name: The Evolution and Perspectives of the Euro’s International Role
Brand: Vita e Pensiero
Price: 6.00 EUR
Availability: OnlineOnly

digital

Article

Magazine

RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI

Issue

RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI - 2018 - 4. An Issue in Honour of Giacomo Vaciago

Title

The Evolution and Perspectives of the Euro’s International Role

Authors

Giuseppe Mastromatteo, Giovanni Battista Pittaluga

Publisher

Vita e Pensiero

Format

Article |

Pdf

Pages

Online from

05-2019

Doi

10.26350/000518_000021

Issn

0035-676X (print) | 1827-7918 (digital)

€ 6.00

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Description

In its start-up phase, many scholars argued that the euro would join or replace the dollar as an international currency. The use of the European currency in foreign trade and as a reserve currency, after rising significantly until 2007, has decreased considerably since the global financial crisis. The main reason for this decline is that, in recent crises, the euro area financial market appeared to be extremely fragmented. This reduced the liquidity of assets denominated in euros. One of the prerequisites for a currency to become an international currency was lacking.