Publication
30 Oct 2008
Until the EU develops a unified market for bonds denominated in euro and backed jointly by EU member states – or, better, by euro-area member states – its claim for the status of reserve currency for the euro will not be met. As a result, capital is not coming to Europe, where it is badly needed to shore up its shaken financial system; moreover, the US will continue to dictate the agenda in international monetary affairs.
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English (PDF, 3 pages, 52 KB) |
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Author | Daniel Gros, Stefano Micossi |
Series | CEPS Commentaries |
Publisher | Centre for European Policy Studies (CEPS) |
Copyright | © 2008 Centre for European Policy Studies (CEPS) |