Thursday, March 24, 2011

World to Have 3 Reserve Currencies in Future

Barry Eichengreen, professor of political science at Berkeley, calls for policymakers to “step up” and “draw a line under the economic crisis”. He also suggests there will be 3international currencies in the future, the US dollar, the euro - which “isn’t going anywhere” he says - and the Chinese renminbi. Europe needs to complete monetary union he adds, saying the impetus for that will come from France and Germany as always.

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