465
Power balance (lemmy.ca)
submitted 9 months ago by to c/politicalmemes@lemmy.ca
93 comments fedilink hide all child comments
 
you are viewing a single comment's thread
view the rest of the comments
[–] 2 points 9 months ago (2 children)

What does France and Germany use? Can England back their pounds on the franc?

Are you asking if the EU can use the euro as a reserve currency?

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •
  • [–] 1 point 9 months ago (1 child)

    I think I am, in the same way America uses its own currency. It's working for them; until this years potential collapse, I mean.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 1 child comment
    •
  • [–] 1 point 9 months ago

    America doesn't use their own currency as a foreign currency reserve. They really don't have much of a need for a foreign currency reserve as they have historically had a relatively stable currency and a lot of partners who are more than willing to trade in USD.

    The US has around 30-40 billion in reserve currency while the EU has somewhere between 300-400 billion.

  • permalink
  • fedilink
  • source
  • parent