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.
More Quotes from Robert C. Solomon:
Back in those days, in the fifties and sixties, countries had balance of payment's deficits or surpluses, those were reflected much more than today in movements of reserves among countries.Robert C. Solomon
Chances are the movements of the euro as against the dollar will be relatively moderate.
Robert C. Solomon
The dollar went up some eighty percent in real terms as I recall now or something like that - from '80 to '85.
Robert C. Solomon
On private transactions, I'll just go very quickly now, a major difference between the United States and Euroland is that in Europe banks are much more important in financial transactions than in the United States.
Robert C. Solomon
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.
Robert C. Solomon
The dollar is currently the principal reserve currency in the world.
Robert C. Solomon
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