Word: euros
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Dates: during 1990-1999
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...American public and officials in Washington are underestimating the risks to the U.S. of the new European Economic and Monetary Union, and its new currency, the euro. The reason for concern is not that the EMU will mean a stronger Europe that can challenge the U.S. economy. Quite the contrary, the EMU is likely to weaken European economies, leading to more trade friction and economic isolation. But the most important problems the EMU can cause are political, bringing increased conflict within Europe and with...
...ostensibly about substituting the euro for 11 national currencies and transferring responsibility for monetary policy from individual national central banks to a new European Central Bank, but the EMU's real importance is political. The advocates of the EMU see it as an important step toward creating a strong political union. The idea of a United States of Europe was conceived at the end of World War II by politicians who believed that abolishing national governments would prevent a repetition of the major wars that had engulfed Europe during the previous 75 years...
...euro and the dollar will be the world'sinternational currencies," Frieden said. "The twowill engage in a healthy rivalry...
Currently valued as the most secure investmentfor those speculating in cash, the dollar may loseto the euro as the currency of choice...
...long run, Frieden said he thinksAmerican firms will not suffer from competitionwith euro-based firms. Institutions, like Harvard,with large amounts of equities in big Americancorporations will not suffer losses due to theeuro, he said