The Role of the Euro in International Economy
Author: Der-Chin Horng
Abstract / Chinese PDF Download
The euro was launched by the ECB on January 1, 1999 and commencedcirculation on the market on January 1, 2002. The primary aims of the euro are topromote European integration and to improve the EU’s economic performance.However, due to the EU’s weight, the euro has also had far-reaching implicationsfor the global economy. The euro has firmly established its role as an internationalcurrency. The use of the euro as an anchor or core currency and also as a depositcurrency has gradually increased. It has played a significant role in internationalloans and deposits, global foreign exchange, and international trade markets,amongst other things. Accordingly, the internationalization of the euro has beencharacterized as a key trend in the international financial system.