A new global star

"There are moments when one should stop and look back at what has been achieved. Those who have worked on concretising ... a dream - namely the birth of a currency that is managed by an internationally recognised institution - know this. Within a decade - the blink of an eye in historical terms - all the negative predictions have been proved false. The euro has made such triumphal progress that it has prompted discussion about the possible decline of the dollar, the star of the global monetary system. [In the meantime] the European Central Bank has made its mark as a powerful institution."

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