The Euro

NPR's John Ydstie reports this weekend that 11 European Union countries will be ringing in the new year with a big "Euro" bang. On New Year's Eve, finance ministers will fix the rate at which the euro will trade. This will begin a race by banks and financial firms to get securities ready to be traded in euros for the first time when the market opens on January 4th. Some say the introduction of the euro could threaten the U.S. dollars' dominance as the reserve currency for the world's financial markets.



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