· The euro was expected to acquire an international role, eventually improving Europe’s resilience in the face of economic shocks. There has been a surge in euro-denominated international bonds, but the liquidity of foreign-exchange markets is no higher for the euro compared to the national currencies it replaced, and the euro remains a long way from challenging the supremacy of the dollar.
· 人们希望欧元能成为国际货币，最终提高欧洲抵御经济冲击的能力。用欧元发行的国际债券价格迅速上升，但欧元外汇市场的流动性并不比它所取代的国家货币强多少，而要想挑战美元的统治地位欧元也还有很长的路要走。