About 800 billion of China s foreign exchange reserves are invested in euro denominated assets.

The interest rates on the euro denominated sovereign debt of the twelve euro zone governments are all very similar.

Because all of the accumulated debt is denominated in euros, it makes all the difference which country leaves the euro. If Germany left, the euro would depreciate.

If the dollar is likely to fall against the euro over the next several years, investments in euro denominated bonds issued by the German or French governments may provide higher safe returns.

In Europe, the market for Greek debt has frozen, and interest rate spreads between Irish and German euro denominated debt recently reached alarming levels.

European governments debt may all be denominated in euro, but German and Italian debt are hardly the same thing, so the government euro bond market lacks the depth and liquidity of the US Treasury Bill market.

For example, WIPO's budget is denominated in Swiss francs and UNIDO's regular budget is denominated in euros.

Holding euros and acquiring euro denominated securities have become attractive again around the world, pushing up the exchange rate and causing new difficulties.

Since all of the accumulated debt is denominated in euros, it makes all the difference who remains in charge of the monetary union.If Germany left, the euro would depreciate.

Until the euro weakened recently, Chinese bankers had been buying more euro denominated assets, no doubt recognizing that, despite the frailty of the eurozone economy, Chinese exporters also need European consumers to keep buying their goods.

Second, China s foreign assets are denominated almost exclusively in US dollars, while its foreign liabilities are denominated mostly in renminbi.

The external deficit of the United States is financed mainly by Central Banks that invest their foreign exchange reserves in dollar assets, for which euro denominated assets represent a serious alternative.

Expenditures for staff costs and maintenance of the premises mainly denominated in euros have been translated into United States dollars in April 2002 at an average euro to dollar exchange rate of 0,8636.

And so, entering into the banking holiday the Euro was the currency, and the money you had in your bank was denominated in Euro, but exiting the banking holiday the drachma will be the currency, and the money that you have in the bank will be the drachma.

By contrast, if Italy left the eurozone, its euro denominated debt burden would become unsustainable and would have to be restructured, plunging the global financial system into chaos.

The philatelic market continues its decline due to the ageing and reduced size of its collector base, the consolidation of dealerships and the slow acceptance of euro denominated stamps in the philatelic market.

Back in the 1970 s, there was some limited issuance of SDR denominated liabilities by commercial banks and SDR denominated bonds by corporations.

b Total public debt denominated in pesos and foreign currency.

At the onset of the crisis, a breakup of the euro was inconceivable the assets and liabilities denominated in a common currency were so intermingled that a breakup would have led to an uncontrollable meltdown.

Expenditure on consultants and experts is denominated in both euros and dollars.

They would also incur losses on their claims and investments denominated in euros.

UNCCD core budget expenditures denominated in euros include General Service staff salaries, most general administrative expenses, supplies and equipment, joint facilities management costs and travel agents bills (though daily subsistence allowance is denominated in dollars).

Acquisition security rights include those that are denominated as security rights, as well as those that are denominated as retention of title, arrangements and financial leases.

Euro

Thus, while a significant proportion of expenditure is denominated in euros, some dollar expenditures remain.

What will not work, at least for most eurozone countries, is internal devaluation that is, forcing down wages and prices as this would increase the debt burden for households, firms, and governments (which overwhelmingly hold euro denominated debts).

But 100 times a 1 gold piece denominated bank note, right?

Because SDRs are denominated in several national currencies, no single currency would enjoy an unfair advantage.

In neither scenario does it make sense to hold huge amounts of dollar denominated assets today.

Of course, an earlier attempt was made to create a commercial market in SDR denominated claims.

Bank deposits, along with most other private and public debts, were denominated in that national currency.

And that raises serious questions about the wisdom of China s massive investments in dollar denominated assets.

Euro House

Euro Techno

As holders of euro denominated assets recognized this situation, they turned to the ECB for insurance (which the ECB could not deliver under its previous president, Jean Claude Trichet, whose leadership was defined by his commitment to maintaining price stability).

At year end 1992, ECU denominated investments amounted to 32.9 per cent.

When the euro fell to 1.20, China finally stepped in to preserve the euro as an international currency.

Moreover, the debt is denominated in rupees and has an average maturity of more than nine years.

The actual budget increase cannot be determined simply by noting a change in the dollar denominated amount.

In the euro s rise against the dollar, euro bulls supposedly have been reacting to America s current account deficit, the strong euro zone economy, and rising euro interest rates.

The average net monthly income grew compared to 5,311 kuna ( 717 euro) in 2009 or 3,326 kuna ( 449 euro) in 2000.

A Euro Sabbatical

What Euro Crisis?

Rebuilding Euro Governance

What Euro Crisis?