64 Quotes by Robert C. Solomon

The major material advantage, financial advantage from having a reserve currency is that between 200 and 300 billion dollar bills, that may be twenty, fifty, hundred dollar bills as well as ones, exist in the world - a lot of them in Russia as you all know I'm sure.

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.

There's a stability and growth pact which was agreed for the eleven countries which tries to limit the size of budget deficits among the eleven countries.

The dollar went up some eighty percent in real terms as I recall now or something like that - from '80 to '85.

The prices of all imports would rise if the dollar depreciates.

Another question has been raised rather widely in Europe, in Japan as well as in the United States is what, to what extent will the euro become a reserve currency.

Back in those days, in the fifties and sixties, countries had balance of payment's deficits or surpluses, those were reflected much more than today in movements of reserves among 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.

Today we have so much more flow of private capital that most international imbalances are financed that way, by private capital movements.