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THE EURO MAY be under strain at the moment – but it could be the world’s top currency within ten years, according to a senior European Central Bank policymaker.
Christian Noyer said the single currency had been a “remarkable success” since its inception ten years ago, and that the eurozone will weather its troubles if measures agreed at a landmark Brussels summit last month are carried out.
“Eurosceptics are mainly outside Europe,” he wrote in an article in French newspaper Le Journal du Dimanche.
Noyer, who is also the governor of the Bank of France, said that the euro had risen meteorically in its first ten years to become the world’s second reserve currency after the US dollar, adding:
And in ten years, the euro may be the leading global currency.
He said that economic problems in France itself, including sluggish growth and job creation, were down to a lack of national reform rather than any issues with the Europe-wide single currency.
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What planet is this guy living on?
Not sure but the drugs are obviously better
I want some of what he’s smoking!
Whatever your opinions about what he’s saying, I’m sure that he is far more qualified and in a much better position to assess the Eurozone ‘crisis’ than you are. The Euro is at the same position against the dollar as it was this time last year, and by mid year it rose to nearly $1.50 per €1. Im no economist but I’m sure real economists and financial professionals like this gentleman know far more than we are reading from tripe like the Daily Star. Chin up people it’s not all doom and gloom.
Only on an Irish website would this positive take be slammed for being optimistic!! Some people just love to be miserable!
The Whineline mentality is alive and well!
Too true. Too many of these idiots are basing their opinions around columns they read in tabloid newspapers right next to Georgia Salpa’s gossip columns. Broaden your minds people. Let a little positivity in!
If we can see it bounce back, there is no reason why it won’t be the most used.
It was getting there before everything went up in the air!
Arab states (Sadam and Gadaffi were making such moves also by the way) and China was talking about converting from the use of the Dollar to the Euro for buying and selling on the open markets before the American banks started to fail and everything snowballed from there in the next few years afterwards!
Very true. It’s only in the last 2 years that the strain started to show, even up until quite recently the vast majority of Irish supported it. If a referendum was held it’d be 50/50 as to whether we stayed.
If the problems are addressed and the world economy returns to some level of growth then there is no reason why it can’t become the top currency.
Is it any wonder it’s on the verge of collapse when idiots like this control the ECB.
When I saw the title. I scanned the page for a reference to his job.
Shock Horror: Banker who failed miserably states that everyone else is wrong.
French Chief Banker as well. Jesus wept. The boom is getting boomier.
Top currency. Ha ha ha ha. Ha ha ha ha .
Its obvious its going to be one of the biggest. But it will take a decade or a little less.
Ten years was in the headline.
Considering massive US debt and the UKs continued decline, this chap is speaking sense, however no surprise the ignorant begruders are active on their keyboards with uninformed nonsense
Stephen. The U.S. and the English have full control of their monetary policy and the necessary powers. The ECB cannot monetize (which is good and bad) and there are no Euro Bonds, there is vast economic divergence. There is no political ability or will present in the EU. 17 summits in the last year and all they come out with are proposals that are relevant to 5 years ago.
The Euro may still be around in 10 years but it certainly will be a lot smaller in geographical spread than it is now, 7-8 countries max. The way it should have started.
The Euro was a poorly planned currency, probably 20 years too early and is a political construct rather than an economic one. There were quiet a no. of leading economists in the 90′s who spelled out quiet clearly the contradictions in it plans and how it would fall apart.
@ Steven. Other than criticizing other contributors to this debate, I haven’t seen you offer anything by way of informed opinion.
Play the ball not the man.
Is this man talking in his sleep or what?
Wake him up now and give him a reality shake.
This gennit got his months mixed up,April 1st is way off yet.
I doubt anyone commenting on this is suitably qualified to say he is wrong or right, so perhaps comments should have been disabled.
Lots of Things COULD happen in 10 years! No one can say what will happen in 10 years!
no one can say what will happen in 10 weeks…never mind years. joke of an article.
In 10 years time the Euro won’t be the top currency in Europe, never mind the world. I’m gambling on the German mark.
A French central banker talking up the euro; one turkey not voting for Christmas.
http://www.telegraph.co.uk/comment/columnists/christopherbooker/8986379/Europe-cannot-save-the-euro-nor-save-itself-from-the-euro.html
The telegraph? Oh yes a big fan of Europe? Who will you be quoting next the BNP
If you’d bothered Reading the article, the writer is equally critical of sterling and the British government.
http://finance.yahoo.com/news/europe-only-way-break-kyle-201607074.html
Apart from one or two eejits commenting, I’m glad the rest of ye see through this nonsense talk.
What a moron. Living in an overpaid protected bubble like all politicians.
The constitution proclamation, amending further enquiries, into delegation of superficial assets towards a declaration of financial suitability into a development arpeggio of furthermore unbeneficial defaults, under strict supervision and serious intercourse official notation will be conserved accordingly.
Cillian, did you just copy and paste that? It makes no sense in regards to this article!
no? i just took loads of random words and put them together……its cryptic
Makes more sense than some of the crap I’ve been reading from economists
What a plonker, is he on LSD? Did he just come out of a coma.
Screw the euro what about the europeans who are paying for it? What about the poor bastards who never saw the great benefits of the boom but are having to pay for the bailouts? I am so bloody tired of economists, politicians, commentators and analysts waffling on about finances, sovereign debt, growth, fiscal rectitude etc. Do they realise what they are building for themselves? Do they have any idea of the resentment that is building up slowly throughout all levels of european society?
After the last Great Depression we saw a rise of dictatorships in europe. I’m not saying that will happen this time but these morons are destabilising democratic institutions and destroying people’s faith in democracy. As usual they won’t realise it until it’s too late.
I always thought when you pay peanuts you get monkeys .what happened here
Noyer has lost his marbles
OK, let’s read between the lines, he’s French, he’s a Banker – mnnnnnn – me thinks he vested interests would say that – wonder where he has laid his bets – and who benefits from the Brussels summit – pfffft to le French
He could be right. The Euro could be the top collectors item as they will be a rare species.
Honestly folks what the f*** do ye all expect him to say.Yes if it survives the current crisis and the elite of Europe get their way he could well be right.But the cost to the average European will be terrible.
Wondering who buys the Irish daily mail most of them have commented here.
ONLY if the measures are agreed to. They are trying to create a United States of Europe (USE). Require each state…ooppss, I mean country to follow a bunch of rules and regulations that may differ signicantly from the local culture or structure with a little wiggle room to accommodate a bit of local “flavor”. Big and popular states…there I go again, countries get more and have greater control. Think about the amount of control California has over the US Presidential election, and eventualy, over time (Rome wasn’t conquered in day ye know) Ireleand becomes Idaho, France becomes New York, Germany becomes Washington, DC…If all the meaures are aged to the € can flourish, but at what expense?
As ‘The Journal.ie’ are the only ones I’ve seen to report this mad diatribe I am beginning to wonder if they do it on purpose so we will ‘respond’. Certainly got me anyway but as for the nutter I think he could be right. I also think the next pope will be Martian, Ireland will abandon income tax deductions from April and Superman exists.
I had to actually check my calender on my phone to make sure it wasn’t April!
Good joke, Christian Noyer, good joke!
This wouldn’t happen aboard the Herman Cain Train
CHOO CHOO
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