Publication

This article compares the economic and political strength of the euro. It surveys the first 10 years of the euro's existence, concluding that the currency is an economic giant but a political dwarf. According to the author, one reason is that the eurozone countries do not speak with one voice in the International Monetary Fund (IMF). The author suggests that consolidation of European votes would lead to IMF reform and eventually translate into political clout for European countries. He argues that the initiative for a European voting group within the IMF should come from France and Germany.