The Internationalisation of the Euro Cover Image

Интернационализацията на еврото
The Internationalisation of the Euro

Author(s): Vessela Todorova
Subject(s): Economy, Supranational / Global Economy, Financial Markets
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: Anchor currency; International currency; Means of payment; Unit of account; Store of value; Currency internationalisation
Summary/Abstract: International currency serves international economic trade. It originated as a result of the internationalisation of national currencies or as supera-sovereign currency. Following the latest financial crisis an urgent answer is sought to the question: Is it possible to substitute the American dollar by some other international currency without shocks to world economy. The substitution of one currency by another is a normal process. The current world economic order, based on the supremacy of the dollar, is already losing ground. The future of the key currencies is indefinite. Every result is possible. The evolution of international currencies depicts the evolution of world economy.