Research Of Euro's Status In The International Monetary Pattern

Since its circulation, euro as a super-sovereign currency, its stats is increasing in the international monetary structure, and it has brought a great impact on the world economic and financial development. Studying of the euro's status in international currency pattern, which can not only provides a basis for further study of the international monetary structure, but also provides a pattern for the healthy development of the RMB. With the deepening of economic globalization, regional monetary cooperation has become a trend of economic development, the world's major economies are trying to regional cooperation. As a milestone, euro has provided much theory.When a currency becomes an international currency, which not only brought economic and financial benefits to the currency the country but also makes the currency issuing countries undertake some essential costs. At present, the major international currencies are U.S. dollars, euro, pound sterling and Japanese yen, they become an international currency by the different course and have their own characteristics. U.S. dollar has become an international currency benefited form the two world wars,; the euro depends on the international monetary cooperation, on the basis of the marks to become an international currency; pounds was the first international currency, it is benefited from international trade and force becoming an international currency; Japanese yen become an international currency by continued appreciation. The International Monetary have many common features, for example, the currency States has strong economic, the foreign trade larger but the dependence smaller, currency convertible freely, currency relatively stable.As domestic currency's functions expanded to the international, the international currency plays role in some of the five money functions. The euro plays more and more roles in international store of value, international means of payment denominated in currencies and international currency functions. In the just a few years time, euro became the second largest international monetary, which is mainly due to a strong euro zone economic strength, the stability of the euro currency, the low inflation of euro zone, sound system, the European Central Bank and monetary policy in the euro zone's foreign trade, a higher level of financial openness of the euro, historical heritage and regional advantage.To analyze the euro's status in international currency pattern in the future, which must be comparative analysis of the euro and U.S. dollar's status. The euro's status in the international monetary pattern depends not only on the development and growth of the euro area, but also affected by the development of U.S. dollar. A comparative analysis of the euro and the dollar's advantages and disadvantages, it can be more objective to analyze the development trend of the euro. In the economic, strength of the euro zone's economies of scale, sustainable economic growth potential and trade openness are slightly higher than the United States. At the international reserves, the euro's position is rising, but still far behind the U.S. dollar. As a reserve currency,U.S. dollar is applied much broader than the euro. In the financial markets and financial facilities, the integration of the euro zone strengthened and achieved some success, but there is still a certain gap between the United States and the euro zone, but the gap is constantly narrowing. In the political and military strength, United States is stranger than the euro area. The political integration in the euro area did not develop smoothly, and there is no unified military management, while the U.S. is the world's largest exporter of military equipment, military spending-GDP ratio is also ranked in the world first. Systematic analysis of the euro and the dollar of their respective advantages and disadvantages, it is useful for analyzing the future of the international monetary situation. The future development of euro is facing opportunities and challenges. As a new currency, the market is both confident and suspect with it. In the past decade, which gives a certain degree of opportunity to the euro development. In 2008 the U.S. financial crisis erupted, the market is more concerned with the development of the euro, but in the end of 2009, the debt crisis occurred in Greece has exposed the euro area a number of deficiencies, the euro is also facing some of the inevitable challenge, "Triffin dilemma" is the euro in the future development of the biggest challenges, as a credit, it must be faced with it. To resolve the "Triffin dilemma", it need the cooperation of the euro and the dollar . Euro rising international status, the United States will not sit idly, the United States will take various measures to stem the euro's rise in status, and the euro zone should be prepared to deal with measures to ensure the euro's development. The euro as a regional currency itself has some flaws, the euro zone member states should unity to overcome difficulties and improve the internal system of the euro area, making the euro a stable and healthy development. Since 1973, the international monetary system used floating exchange rate system, the international monetary system constantly exposed the shortcomings. The future of the international monetary situation became an important research topic, there are several options, rebuild the gold standard, three kinds of money Space program, the idea of a world currency. These options all have their own advantages and disadvantages. Just now, there is no good development program.The changes of euro's status in the international monetary pattern have a profound impact on the international financial markets and the international monetary system. And the euro have impact on China is multifaceted, it not only affected China's foreign trade, foreign investment, utilization of foreign capital and foreign exchange reserves, but also affected the RMB exchange rate regime and the RMB internationalization. Chinese enterprises and the Government should adopt a positive response to take full advantage of the opportunities arising from the euro to accelerate the development of Chinese enterprises to reduce the adverse impact. Chinese enterprises should improve the technological content of products, form their own brand, and enhance the enterprise's core competitiveness. The Chinese government should increase the euro in foreign exchange reserves, and enhance the ability to manage foreign exchange assets. China's financial sector should enhance to cooperate with the euro area banking sector for facilitating two-way trade development, in the technology should be continuously updated e-business and international standards, financial tools, should continuously innovate, enhance the liquidity of the assets enhance earnings r and educe risk.Succession of the euro currency cooperation provides a good inspiration in other regions. If RMB want to continuously grow, first, we must "four coins integration", in China of monetary union, "Asian Dollar" is just a preliminary idea, there are many place can not be achieved, China and Japan are difficult to unity in many places, if China and Japan cann't reach a consensus, "Asian Dollar" would be difficult to form. There are many factors affected the status of euro in the international monetary pattern. The euro's position is increasing in the total, but the rising process is tortuous. The euro has incomparable advantages; it will continue to enhance its international status in the future.