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Date: 2005-11-02 10:27 pm (UTC)It would in that fewer people would see a need to hold dollar reserves for the purpose of petro transactions. However, I don't see the Euro as being well-enough established for that to happen, so I think they're on crack.
Really, if a viable contender existed, I suspect there'd already have been a change. But there really isn't. It takes a lot to make a trading changeover like that. It took World War II for the dollar to take over from the Pound Sterling.