Speech

The extended importance of the euro

Abstract: Remarks before the European Banking Congress, Frankfurt am Main, Germany, November 17, 2006 ; \"While the ECB has delivered a currency that retains its purchasing power at least as well as the dollar, there are at least three reasons why the euro is unlikely to displace the dollar as the dominant international currency in the near term. First, the growth prospects of the euro area. Second, the uniqueness of EMU. Third, the benefits of incumbency.\"

Keywords: Euro; Dollar, American; Monetary unions - European Union countries; Monetary policy; International finance;

Bibliographic Information

Provider: Federal Reserve Bank of Dallas

Part of Series: Speeches and Essays

Publication Date: 2006

Number: 58