There's a stability and growth pact which was agreed for the eleven countries which tries to limit the size of budget deficits among the eleven countries.
More Quotes from Robert C. Solomon:
There has been talk in Europe about American hegemony being somehow based upon the use of the dollar in the world. I just don't see that connection at all.Robert C. Solomon
The major material advantage, financial advantage from having a reserve currency is that between 200 and 300 billion dollar bills, that may be twenty, fifty, hundred dollar bills as well as ones, exist in the world - a lot of them in Russia as you all know I'm sure.
Robert C. Solomon
There is a European Central Bank, of course, established and it has the structure similar to the Federal Reserve system, not precisely the same but similar.
Robert C. Solomon
In the United States, securities markets are much more developed than they are in Europe.
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
The dollar is currently the principal reserve currency in the world.
Robert C. Solomon
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Based on Topics: Budgeting Quotes, Countries QuotesBased on Keywords: pact
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