| When the euro was launched at the start of the century, it was meant to be a rival to the dollar. Turning it into the world’s trading and reserve currency was, unofficially at least, part of the reason for creating it.
Officials from Frankfurt and Brussels missed no opportunity to crow over every sign that the euro was gaining ground on the U.S. dollar as a global standard. Every time a central bank increased its holdings of euros, it was presented as a triumph for Europe, and a defeat for the U.S...............................................Full Article: Source |