Thank you DJ for the view on Euro. I used to hold deposits in DM, because of the industrial nature of the Germans, their attitude towards debt and the way their central bankers worked. In Hong Kong, Euro deposits have been offered when Euro was first introduced, though only for fixed deposit [the bank also offers fixed deposits in Canadian, Australian, New Zealand Dollars, Pound sterling, Franc, along side the USD, DM and Yen - Hong Kong is pretty democratic when it comes to money].
I expect that the world ex-Euro states will hold more Euro as reserve currency than their previous holdings in DM and Franc (I am not aware of any other Euro currency seriously held as reserve), and if so, Euro will succeed for at least a while. I am not sure of the Pound as a reserve currency now ... maybe they are no longer treated as such at all; in any case the Pound is not Euro-ed, yet, if ever.
Chugs, Jay |
