''A currency without a country — resurrecting a very old, but worthwhile post on the euro and EU''

From USA GOLD

''Europe at the moment is a nation without a governing political document. It has a central bank that issues a currency without political protocols – essentially a currency without a country. I see that as a disadvantage, not an advantage. Until that is addressed, it will be a competitor but only in terms of default. Under current conditions, I could easily see the euro simply becoming Dollar Lite in international markets. But that’s probably acceptable from the European point of view. It is not interested in sponsoring the chief reserve currency at this time, but more a shared responsibility concept with the dollar. I think this is a G-7 understanding already agreed to tacitly.''

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