Skip to comments.Euro could become world's leading currency: Noyer
Posted on 12/31/2011 3:38:29 PM PST by decimon
PARIS (Reuters) - The euro could become the world's leading currency in the next decade if leaders of the single-currency bloc succeed in tightening fiscal integration, European Central Bank policymaker Christian Noyer said in an article to be published in the Journal du Dimanche.
European leaders struck a historic deal at an emergency summit in Brussels on December 9 to draft a new treaty for deeper economic union, in an attempt to stem the debt crisis that is threatening to cause the collapse of the single currency.
The news temporarily calmed markets. But concerns quickly resurfaced as the final details of the agreement have yet to be determined and a new treaty could take up to three months to negotiate.
Ratings agency Fitch has said it doubts a comprehensive solution to the crisis can be found and urged more decisive action from the ECB.
"If we implement all the decisions taken at the Brussels summit we will emerge stronger," Noyer said in the article, due to be published to coincide with the 10-year anniversary of the euro on January 1.
"In 10 years, maybe the euro will be the world's number one currency."
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OMG! That's funny.
Lots of big “ifs” that will never come true...
Not going to happen.
The EU is an irrational proposition, it always has been.
World’s leading contrarian.
When swine fly.
They created the EU largely to compete with the US. They failed and are taking another run at it.
One of the things not mentioned is the US’s ability to drag them down... let alone Obama’s ability to keep the US down and in doing that , the EU as well.
FAt f***ing chance....lol!
The guy is a buffoon but unfortunately not a harmless one. Sadly some will believe him and be convinced that the elites will devise some strategy or there will be some savior to rescue the Euro. There won’t be.
The problems of excessive debt and central bankers debasing their currency affects Europe today, Japan tommorrow and the US the day after. These days are probably measured in years but this is the order that these economies will detonate in.
A worse threat than America is the rising of the GCC and the Pacific Rim
Together they will strangle Europe
All the financial gimmickry imaginable will never recover the lost capital that two generations of profligate deficit spending squandered.Mr. Noyer’s rhetoric will “fix” nothing. Those monumental debts are not sustainable.Unfortunately the deficit spending continues and the debts increase both in Europe and the US. Western economies are weakening. The strength of the economy correlates with the value of the currency. Long term it does not look good for the euro and eventually the dollar.
The solution lies in getting the US economy rolling again and that is just NOT on the presidents agenda.
If the American economy was rolling, so would the global economy and many problems would be solved. Its funny how debt is easily covered if there is income.
Unfortunately, the Anti America president is striving to take America down and in doing so, he is taking many others.
Well, they say “bad money drives out good.”
But that may be impossible at this stage of the game.
And Mount Everest could become a tropical island if Noah’s flood returns.
The Euro could not have been considered officially dead until an announcement like this. It will not last far into 2012.
This is a VERY likely scenario. All that needs to happen is that Soros-type, or types, manage to trash a few other currencies BESIDES the US Dollar, and before you know it... with NOTHING different about the Euro, even some more Euro decline... VOILA! Now the Euro is the top world's Currency!