The prices of all imports would rise if the dollar depreciates.
The dollar is currently the principal reserve currency in the world.
Chances are the movements of the euro as against the dollar will be relatively moderate.
In the United States, securities markets are much more developed than they are in Europe.
The dollar went up some eighty percent in real terms as I recall now or something like that - from '80 to '85.
If a currency is to become a growing, an increasing reserve currency, there has to be not only a demand for it there has to be a supply of it.
There's a stability and growth pact which was agreed for the eleven countries which tries to limit the size of budget deficits among the eleven countries.
There has been talk in Europe about American hegemony being somehow based upon the use of the dollar in the world. I just don't see that connection at all.
There is a European Central Bank, of course, established and it has the structure similar to the Federal Reserve system, not precisely the same but similar.
Another question has been raised rather widely in Europe, in Japan as well as in the United States is what, to what extent will the euro become a reserve currency.