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Robert C. Solomon —
American
Educator
born on September 14, 1942,
died on January 02, 2007
Robert C. Solomon was an American professor of philosophy at the University of Texas at Austin... (wikipedia)
So if the euro, if Euroland is to become a reserve center, if the euro is to become a reserve currency, Euroland will have to have a deficit in its overall balance of payments.
To the extent that the United States has, I don't like the word hegemony, the United States has influence around the world, I don't think that's based on to any significant degree on the fact that countries use the dollar as their major reserve.
Love can be understood only 'from the inside,' as a language can be understood only by someone who speaks it, as a world can be understood only by someone who lives in it.
Chances are the movements of the euro as against the dollar will be relatively moderate.
If a currency is to become a growing, an increasing reserve currency, there has to be not only a demand for it there has to be a supply of it.