I'm not posting this because I want to advocate the UK joining the Euro (even though I think it is a good idea... hell, I think Canada should join it as well but that is another story.)
I'm posting this because of this factoid:
Only the US and the euro area have serious global reserve currencies, with about 63 per cent and 27 per cent of the global stock of reserves respectively.
There are a lot more global reserves in Euros than I had thought. Interesting.
FT.com / Comment & analysis / FT Columnists - There is no excuse for Britain not to join euro
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