"The reserve currency role seems to add prestige to an area and some people in Europe have talked about the desirability of the euro becoming an international reserve currency"
- Robert C. Solomon
About this Quote
This quote by Robert C. Solomon recommends that having a currency as a reserve currency can bring status to an area. This is likely due to the reality that having a reserve currency indicates that it is extensively accepted and relied on by other nations. This is why some individuals in Europe have actually spoken about the desirability of the euro ending up being a global reserve currency. This would indicate that the euro would be used as a kind of payment in global deals, and it would be viewed as a trustworthy and steady currency. This might bring more eminence to Europe, and it could likewise assist to enhance the euro's worth.