For anyone who did pay any attention to my post below about the collapse of the dollar, well.... it happened. Now let's just see when it plays out to its final conclusion of sinking below the euro in terms of world currency reserves. I would expect we'll be off the US Dollar Standard by 2015. And for anyone who thinks that the recession in the States won't affect Canada, or specifically Newfoundland & Labrador, well think again. Spin offs of spin offs of spin offs.... the effects are wide and felt by all.
The aim of the member states is to make the euro as strong international reserve currency as the U.S. dollar is. Also, the unified currency lowers the barriers to trade within the single economic area, which has been the core target ever since the first plans for unified European currency were laid out in late 1960s.
Forex Guide
Euro Currency History
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