Il dollaro e l'euro come monete internazionali

In: Rivista di studi politici internazionali: RSPI, Volume 69, Issue 1, p. 33-68

Abstract

Sketches the development & implications of the euro as the new international currency for the EU on 1 Jan 2002, focusing on its relationship with the US dollar. Events leading to the decision to adopt one currency are traced to the early 1990s, when a monetary crisis hit many European currencies. Determined fiscal & monetary control efforts by governments of 15 EU countries -- especially France & Germany -- in the following years culminated in the successful adoption of the euro as mandated in the Treaty of Maastricht, despite the high cost to EU members because of political issues (internal dissention) & economic issues (alignment of several macroeconomic variables). While current lack of cooperation between the US & EU on international & monetary issues has a destabilizing impact, & given that the dollar will remain a key strategic economic value, it is suggested that only coordinated management of the euro's values through proactive long-range planning of European interest rates will help restore confidence. 3 Figures. J. Sadler