The battle for international dominance between the dollar and the euro has been one that has lain dormant for much of the single currency’s 20-year existence. In the first 20 years of its existence, the euro has consistently been the second most-used international currency, while the dollar has maintained the first position it has held since the second World War. Sixty other countries and territories around the world, home to some 175 million people, have chosen to use the euro as their currency or to link their own currency to it, in one way or another. How then to step up the euro to become the reserve currency on a world scale? World stageProgress in all these areas will be crucial to upgrading the resilience of the euro to become “the international reserve currency”.

Source: The Irish Times January 05, 2019 00:56 UTC