| Autor: Barbara Kurkowiak | 51 |
Strony: 51-65
pełen tekst
THE INTERNATIONAL POSITION OF THE EURO AFTER TEN YEARS OF THE SINGLE CURRENCY
Summary
This paper discusses the international role of the euro since its introduction. The author reviews the relevant factors of the euro area economy determining the current global position of the single currency. Considering three functions of money as a unit of account, a medium of exchange and a store value the main part of the analysis deals with the trends in the international use of the euro. The results indicate that the euro fi rmly established itself as the world’s second most important currency after US dollar, though in many functions the ongoing internationalisation process reveals strong regional and institutional patterns.
pełen tekstTHE INTERNATIONAL POSITION OF THE EURO AFTER TEN YEARS OF THE SINGLE CURRENCY
Summary
This paper discusses the international role of the euro since its introduction. The author reviews the relevant factors of the euro area economy determining the current global position of the single currency. Considering three functions of money as a unit of account, a medium of exchange and a store value the main part of the analysis deals with the trends in the international use of the euro. The results indicate that the euro fi rmly established itself as the world’s second most important currency after US dollar, though in many functions the ongoing internationalisation process reveals strong regional and institutional patterns.