Resource title

The Role of Euro in the International Monetary System

Resource image

image for OpenScout resource :: The Role of Euro in the International Monetary System

Resource description

The introduction of the euro at the beginning of 1999 promised to mark a turning point in the international monetary system. It is often compared with the transformation of the international monetary system in the early 1970s from the system of fixed exchange rates endorsed at the Bretton Woods conference to the regime of managed flexible exchange rates. But in fact its significance is deeper. Dollar was the dominant currency. The introduction of the euro, on the other hand, challenged the status of the dollar and alter the power configuration of the system. For this reason the introduction of the euro is the most important development in the international monetary system since the dollar replaced the pound sterling as the dominant international currency. The introduction of the euro is undoubtedly the most profound change in the international monetary system since the collapse of the Bretton Woods system in 1973. It is therefore understandable that a great deal of interest is being shown in the prospective role of the euro as an international currency . It have taken some time for traders, investors, analysts and other financial market agents to become accustomed to a new currency and decide on the weight which they will assign to it for various purposes.

Resource author

Resource publisher

Resource publish date

Resource language

en

Resource content type

application/pdf

Resource resource URL

http://journal.ibsu.edu.ge/index.php/ibsusj/article/view/6

Resource license

Authors who publish with this journal agree to the following terms:Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).