Top 10 Robert C Solomon Quotes
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Love can be understood only 'from the inside,' as a language can be understood only by someone who speaks it, as a world can be understood only by someone who lives in it.
There is a European Central Bank, of course, established and it has the structure similar to the Federal Reserve system, not precisely the same but similar.
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.
The dollar is currently the principal reserve currency in the world.
Chances are the movements of the euro as against the dollar will be relatively moderate.
The United States as usual has a sizable deficit in the current account of its balance of payments, trade account and other current accounts, current account items.
Back in those days, in the fifties and sixties, countries had balance of payment's deficits or surpluses, those were reflected much more than today in movements of reserves among countries.
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.
Some countries that are close to Europe that already hold Deutschemarks, clearly would automatically hold euros, those are countries in Eastern Europe mainly, a few countries in Africa.
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.
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