J'ai lu les postmodernistes avec un certain intérêt avec même admiration. Mais quand je les lis, j'ai toujours cet horrible sentiment lancinant que quelque chose d'absolument essentiel est oublié. Plus on dit qu'une personne est un produit social, ou un confluent de forces ou fragmentée, ou marginalisée et plus on ouvre tout un nouveau monde d'excuses.
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.
There is a European Central Bank, of course, established and it has the structure similar to the Federal Reserve system, not precisely the same but similar.
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.
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.
There has been talk in Europe about American hegemony being somehow based upon the use of the dollar in the world. I just don't see that connection at all.
To the extent that the United States has, I don't like the word hegemony, the United States has influence around the world, I don't think that's based on to any significant degree on the fact that countries use the dollar as their major reserve.
The prices of all imports would rise if the dollar depreciates.
In the United States, securities markets are much more developed than they are in Europe.
