填空题 The euro was established 10 years ago. On its 10th anniversary, we're in the midst of {{U}} {{U}} 1 {{/U}} {{/U}}. You may ask. Has the euro, which was controversial when it was established, helped Europe and the world {{U}} {{U}} 2 {{/U}} {{/U}}?
That's a really good question, because the euro as you say was not only controversial, it was {{U}} {{U}} 3 {{/U}} {{/U}}. The idea of a bunch of countries getting together, pooling their sovereignty to {{U}} {{U}} 4 {{/U}} {{/U}}rather than having a currency imposed when they get conquered or something, was very new and still {{U}} {{U}} 5 {{/U}} {{/U}}elsewhere.
The short answer is yes. For the euro's own members and for the system of the world as a whole, the euro has been a good thing and {{U}} {{U}} 6 {{/U}} {{/U}}. Countries in the eurozone, particularly countries like Greece, Italy and Portugal, which would have seen {{U}} {{U}} 7 {{/U}} {{/U}}shoot through the roof and capital flee out of them, have had very little of that as {{U}} {{U}} 8 {{/U}} {{/U}}. Their interest rates have {{U}} {{U}} 9 {{/U}} {{/U}}but nothing like they would have if these countries {{U}} {{U}} 10 {{/U}} {{/U}}. By the same token, {{U}} {{U}} 11 {{/U}} {{/U}}—Germany, France, and so on—are suffering less from {{U}} {{U}} 12 {{/U}} {{/U}}of their neighbor countries and their closest trading partners because {{U}} {{U}} 13 {{/U}} {{/U}}.
On a global perspective, it's a little less of {{U}} {{U}} 14 {{/U}} {{/U}}. There has certainly been no harm from the euro, and it has been {{U}} {{U}} 15 {{/U}} {{/U}}. It probably helps maintain a general sense of {{U}} {{U}} 16 {{/U}} {{/U}}in the world. The reason I'm just being a little bit hesitant, and this is the theme of our new book, is that we feel the euro could {{U}} {{U}} 17 {{/U}} {{/U}}, both regionally to help those European countries outside the euro area, particularly in crisis {{U}} {{U}} 18 {{/U}} {{/U}}, and globally in terms of backing up and in some ways partnering or even {{U}} {{U}} 19 {{/U}} {{/U}}in global leadership. That's where we feel {{U}} {{U}} 20 {{/U}} {{/U}}.