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.
So if the euro, if Euroland is to become a reserve center, if the euro is to become a reserve currency, Euroland will have to have a deficit in its overall balance of payments.
A sexual revolution begins with the emancipation of women, who are the chief victims of patriarchy, and also with the ending of homosexual oppression.
Only Socrates knew, after a lifetime of unceasing labor, that he was ignorant. Now every high-school student knows that. How did it become so easy?
Reason cannot establish values, and its belief that it can is the stupidiest and most pernicious illusion.
There is a European Central Bank, of course, established and it has the structure similar to the Federal Reserve system, not precisely the same but similar.
You won’t do any more housework? Then you go to the bin.
Diplomats make it their business to conceal the facts, and politicians violently denounce the politicians of other countries.
Some countries that are close to Europe that already hold Deutschemarks, clearly would automatically hold euros, those are countries in Eastern Europe mainly, a few countries in Africa.
In the United States, securities markets are much more developed than they are in Europe.