Euro will not eclipse the dollar
The euro is unlikely to depose the dollar as the world’s leading currency, but could achieve parity with the US currency, European Central Bank governing council member Ewald Nowotny said yesterday.
Nowotny, who heads Austria’s central bank, said there were likely to be several major currencies used for trading in 10 years time. “The euro has the potential to provide a significant contribution to world financial stability. This opportunity has to be seized by European politics,” he said.