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What would happen if the € became the world/reserve currency? (sopuli.xyz)

submitted 1 week ago* (last edited 1 week ago) by sopularity_fax@sopuli.xyz to c/nostupidquestions@lemmy.ca

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[–] jimmy90@lemmy.world 3 points 6 days ago* (last edited 6 days ago) (1 children)

i think the euro has started to act as a reserve currency but not the reserve currency

iirc when the dollar became the world currency it had good and bad effects. one of the side effects was the massive increase in national debt to create the currency (securities) for people to invest in. it's got so large that there is actual risk on the US defaulting on these debts as the US economy struggles to keep up.

https://en.wikipedia.org/wiki/Reserve_currency

i think more likely will be the increased use of Chinese currency as a reserve

[–] _Nico198X_@europe.pub 2 points 5 days ago

Yuan is unlikely due to unpredictability of gov influence on the currency