

Couple of issues here - first, for the Euro to be used as a reserve currency, the EU would have to be a net importer of goods (and exporter of Euros). But EU policy is based on avoiding deficits. Second, for the Euro to be taken seriously by other countries, there should be something manufactured by the EU, that can, at least in theory, be bought with it. But the EU’s manufacturing sector, particularly in Germany, is collapsing.
Funny you should mention that. I was reading some discussion that several countries’ central banks are buying up gold. There was also one guy speculating that they might make some sort of gold-backed currency for international trade.
Time is a circle, etc.