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How Asia's reserve accumulation might affect the euro. ECMI Commentary No. 4, 13 February 2006

Casey, Jean-Pierre and Gottlieb, Charles. (2006) How Asia's reserve accumulation might affect the euro. ECMI Commentary No. 4, 13 February 2006. [Policy Paper]

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    Abstract

    This market commentary sketches the competition between the Euro and the US Dollar in the global currency reserve market. It argues that central banks in East Asia and around the world may soon be prepared to sacrifice the liquidity edge still enjoyed by US Treasuries over the euro, if it continues to be accompanied by the risk of holding an asset whose medium-term value is severely jeopardised by enormous external imbalances. The euro is the most likely currency to benefit from this trade-off once it becomes too pronounced.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro
    EU policies and themes > External relations > EU-Asia-general
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > ECMI Commentaries
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 21 Nov 2009
    Page Range: p. 3
    Last Modified: 15 Feb 2011 18:15
    URI: http://aei.pitt.edu/id/eprint/11642

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