Publication

This publication discusses how the European Monetary Union (EMU) authorities can promote a greater role for the euro. The author argues that this could be a recipe for discord with the US, which has never made any secret of its commitment to preserving the dollar's world‐wide dominance. The publication explains that a struggle for monetary leadership could become a source of sustained tensions in US‐European relations but that, fortunately, there seems to be little risk of a destabilizing escalation into an outright geopolitical conflict.