유로화의 국제통화 성공가능성과 전망

다국어 초록 (Multilingual Abstract)

European common currency, `euro`, was introduced in Euroland(11 countries). It means that member countries discard their own national currencies. The new system euro gives impacts on the international financial market and structure of currency competition in markets. This papers review the effects of new currency `euro` on international financial market. First of all, we examine the possibility of euro as international key currency alike the dollar. In long-term perspectives the euro can obtain the position of international popular currency. So that euro can replace to some extent the role of the dollar. However, the exchange rate of euro shows the weakness in regards of the dollar. The reasons of weak euro is, first of all, the benign neglect policy of Euroland and the ECB. Second we can find the reason of weak euro in different the performance of real economy between EU and USA. It is expected in the long-run that euro recovers its position and can compete with dollar.