US - European Union Relations: Economic Change and Political Transition

摘要

The European Monetary Union (EM U) will affect the economic balance of force between the European Union and the United States. * The introduction of the euro as the currency of the EMU will aid participating European Union (EU) member states by eliminating transaction costs, exchange rate risks, and interest rate spreads across the 11 European currencies early in the coming century. * The proportion of international transactions and assets held, in euros, could approximate that held in dollars within 10 years. * The U.S.- European political relationship is increasingly disconnected due to the lack of a common external threat, with the United States being concerned about threats to global security and European states focusing on the EMU and unemployment problems.