Abstract This paper will examine whether the euro could surpass the American’s greenback or it is likely to continue to exist as a subordinate currency. In order to do that we need to focus both on economics and politics as they directly or indirectly affect the role of the euro. In this article we will argue that even though the introduction of the euro in 1999 had considerable implications for the global financial, monetary, and economic system, the euro as a medium of exchange, as a store of value, and as a unit of account remains and it will continue to remain the second global reserve currency in the world. Moreover, it could be argued that not only the Eurozone the last ten years suffers from serious deficiencies that negatively affect the euro’s leading role as a global reserve currency but also the political and institutional conditions do not favor such evolution. Under these conditions it could be said that it is unlikely for the euro to overcome the pre-eminence of th...
