Why the euro is not the next global currency
By Jean Pisani-Ferry and Adam Posen
Published: October 19 2009 19:58 | Last updated: October 19 2009 19:58
The explosion of debate on the demise of the dollar has been instructive, though vastly premature. What is striking, however, is the absence of the euro from talk of alternatives as the global currency. Currency baskets, SDRs, even internationalisation of the renminbi, have been mooted, but not the obvious alternative.