A Quote by Robert C. Solomon

So if the euro, if Euroland is to become a reserve center, if the euro is to become a reserve currency, Euroland will have to have a deficit in its overall balance of payments.

Robert C. Solomon

Quote Topics

Balance Become Center Currency Deficit Euro Overall Payments Reserve Will

Quote Author

Robert C. Solomon
American - Educator
September 14, 1942 - January 2, 2007

The reserve currency role seems to add prestige to an area and some people in Europe have talked about the desirability of the euro becoming an international reserve currency.

Robert C. Solomon

Another question has been raised rather widely in Europe, in Japan as well as in the United States is what, to what extent will the euro become a reserve currency.

Robert C. Solomon

There are a few things that people all around the world need to admit to themselves. Trade restraints slow economic growth, the euro is not a reserve currency, and scoreless sports ties are boring.

P. J. O'Rourke

...let's talk about soccer scores. There are a few things that people all around the world need to admit to themselves. Trade restraints slow economic growth, the euro is not a reserve currency and scoreless sports ties are boring.

P. J. O'Rourke

If a currency is to become a growing, an increasing reserve currency, there has to be not only a demand for it there has to be a supply of it.

Robert C. Solomon

The proposal for a new global reserve currency - or Special Drawing Rights - is a good idea for many reasons. Yes, for the Chinese it would cushion any fall in the value of the dollar per se because it would only be part of a basket of other currencies, including the yen and the euro.

Joseph Stiglitz

For a small open economy that trades mostly with the euro zone it makes absolute sense to be part of the currency union. Our currency has already pegged to the euro since 2002. We don't have an independent monetary policy. We are regulated by the European Central Bank in Frankfurt, but we are not able to reap all the profits. Our businesses want to save the transaction costs.

Dalia Grybauskaite

I don't want euro bonds that serve to mutualize the entire debt of the countries in the euro zone. That can only work in the longer-term. I want euro bonds to be used to finance targeted investments in future-oriented growth projects. It isn't the same thing. Let's call them 'project bonds' instead of euro bonds.

Francois Hollande

The euro currency both presupposes and promotes a fiction - that 'Europe' has somehow become, against the wishes of most Europeans, a political rather than a merely geographic expression.

George Will

My single biggest financial concern is the loss of the dollar as the reserve currency. I can't imagine anything more disastrous to our country. . .you're already seeing things in the markets that are suggesting that confidence in the dollar is waning. . .I think you could see a 25% reduction in the standard of living in this country if the U.S. dollar was no longer the world's reserve currency. That's how valuable it is.

Sam Zell

I'm not trying to be diplomatic. I'm trying to be more nuanced and realistic. I think there has to be a serious examination of the shortcomings of the Euro structure. Euro central institutions, whether it be fiscal policy, monetary policy, financial regulation, are simply not as robust as they are in a currency that has a national government behind it.

Stephen Harper

I have never said I would adopt the euro. Not today, not tomorrow, not in five years. We will introduce the euro when it will benefit Poles and Poland.

Ewa Kopacz

Common experience is the gold reserve which confers an exchange value on the currency which words are; without this reserve of shared experiences, all our pronouncements are checks drawn on insufficient funds.

Rene Daumal

Germans tend to forget now that the euro was largely a Franco-German creation. No country has benefited more from the euro than Germany, both politically and economically. Therefore what has happened as a result of the introduction of the euro is largely Germany's its responsibility.

George Soros

Concerning the common currency: today, the euro is not worth it for Poland. The reason why we survived the financial and economic crisis quite well is that we have a national currency. This will not change in the near future.