REFERENCES
- Abdelal , R. 2007 . Capital Rules: The Construction of Global Finance , Cambridge : Harvard University Press .
- Adler , E. 1997 . ‘Seizing the Middle Ground: Constructivism in World Politics’ . European Journal of International Relations , 3 ( 3 ) : 319 – 63 . doi: 10.1177/1354066197003003003
- Agência de Notícias Brasil Árabe (ANBA) . 2005 . “ ‘Euro: uma alternative para exportadores diante do dólar desvalorizado’ ” . Boletim Informativo No. 47, February 11 .
- Al Suwaidi , S. B. N. 2006a . “ Speech at the Bankers Lunch, Hosted by the Bank of New York – Abu Dhabi ” . Abu Dhabi : Emirates Palace Hotel . December 17, http://www.centralbank.ae/en/index.php?option=com_content&view=article&id=59&Itemid=65 (accessed 23 September 2011)
- Al Suwaidi , S. B. N. 2006b . “ ‘The Extended Importance of the Euro’ ” . speech delivered in Frankfurt . November 17, http://www.centralbank.ae/en/index.php?option=com_content&view=article&id=60&Itemid=65 (accessed 23 September 2011)
- Angeloni , I. 2011 . Global Currencies for Tomorrow: A European Perspective , Bruegel Blueprint Series Vol. XIII , Brussels : Bruegel .
- Arabian Business . 2010 . ‘SAMA Chief says Saudi won't Drop Dollar Peg’ . Arabian Business , February 15
- Brazilian Central Bank . 2010 . “ ‘Relatório de Gestão das Reservas Internacionais’ ” . Vol. 2, June , Brasilia
- Brazilian Central Bank . 2011 . “ ‘International Reserves’ ” . http://www.bcb.gov.br/?IR20110920 (accessed 20 September 2011)
- Bénassy-Quéré , A. and Pisani-Ferry , J. 2011 . “ ‘What International Monetary System for a Fast-Changing World Economy’ ” . Working Paper 2011/06 Bruegel , Brussels April
- Bergsten , F. C. 1997 . ‘The Dollar and the Euro’ . Foreign Affairs , 76 ( 4 ) : 83 – 95 . doi: 10.2307/20048123
- Best , J. 2005 . The Limits of Transparency , Ithaca : Cornell University Press .
- Blyth , M. 2002 . Great Transformations: Economic Ideas and Institutional Change in the Twentieth Century , Cambridge : Cambridge University Press .
- Cafruny , A. and Ryner , J. M. 2007 . Europe at Bay: In the Shadow of US Hegemony , London : Lynne Rienner Publishers .
- Chami , J. 2008 . “ Interview with one of the authors, Federal University of Rio de Janeiro (UFRJ) ” . Rio de Janeiro, July 7. Position: Professor of Economics .
- Chang , M. 2003 . “ ‘Franco-German Interests in European Monetary Integration’ ” . In Monetary Orders. Ambiguous Economics, Ubiquitous Politics , Edited by: Kirshner , J. 218 – 35 . Ithaca : Cornell University Press .
- Chen , X. 2009 . “ Interview with one of the authors, European Studies Institute, Chinese Academy of Social Sciences Headquarters, Beijing, April 30 ” . Position: Professor of European Studies .
- Chinn , M. and Frankel , J. 2008 . ‘Why the Euro Will Rival the Dollar’ . International Finance , 11 ( 1 ) : 49 – 73 . doi: 10.1111/j.1468-2362.2008.00215.x
- Cohen , B. J. 1998 . The Geography of Money , Ithaca : Cornell University Press .
- Cohen , B. J. 2006 . “ ‘The Macrofoundations of Monetary Power’ ” . In International Monetary Power , Edited by: Andrews , D. M. 31 – 50 . Ithaca : Cornell University Press .
- Cohen , B. J. 2008 . ‘The International Monetary System: Diffusion and Ambiguity’ . International Affairs , 84 ( 3 ) : 455 – 70 . doi: 10.1111/j.1468-2346.2008.00717.x
- Cohen , B. J. 2010 . The Future of Global Currency: The Euro Versus the Dollar , London : Routledge .
- Cooper , R. 2000 . “ ‘Key Currencies After the Euro’ ” . In The Euro as a Stabilizer in the International Economic System , Edited by: Mundell , R. and Clesse , A. Dordrecht : Kluwer Academic Publishers . , pp. 177–202
- Cooper , R. 2009 . “ ‘The Future of the Dollar’ ” . Petersen Institute for International Economics, Policy Brief, PB 09-21, September .
- De Cecco , M . 2009 . “ ‘From Monopoly to Oligopoly: Lessons from the Pre-1914 Experience’ ” . in E. Helleiner and J. Kirshner (eds.) The Future of the Dollar, Ithaca: Cornell University Press, pp. 116–41
- De Grauwe , P . 2011 . “ ‘The Governance of a Fragile Eurozone’ ” . Brussels : CEPS Working Document No. 346, Centre for European Policy Studies . May
- Delpla , J. and Von Weizsäcker , J. 2011 . “ ‘Eurobonds: The Blue Bond Concept and its Implications’ ” . Bruegel , Brussels : Bruegel Policy Contribution . March 2011
- Dexter , L. A. 2006 . Elite and Specialised Interviewing , Colchester : ECPR Press .
- Ding , Y. 2009 . “ Interview with one of the authors, Development and Research Centre (DRC) ” . Beijing : April 7. Position: Deputy Director of DRC .
- Dornbush , R. 1996 . ‘Euro Fantasies’ . Foreign Affairs , 75 ( 5 ) : 110 – 24 . doi: 10.2307/20047747
- ECB . 2010 . ‘The International Role of the Euro, European Central Bank, Frankfurt, July.
- Eduardo , F. 2008 . “ Interview with one of the authors, BNDES Headquarters ” . Rio de Janeiro (Brazil), July 9. Position: Economic advisor to the Executive Board .
- Eichengreen , B. 2011 . Exorbitant Privilege: The Rise and Fall of the Dollar , Oxford : Oxford University Press .
- El-Gamal , M. A. and Jaffe , A. M. 2010 . Oil, Dollars, Debt and Crises: The Global Curse of Black Gold , Cambridge : Cambridge University Press .
- Essayad , M. and Algahtani , I. 2005 . ‘Policy Issues Related to Substitution of the US Dollar in Oil Pricing’ . International Journal of Global Energy Issues , 23 ( 1 ) : 71 – 92 . doi: 10.1504/IJGEI.2005.006411
- European Central Bank (ECB) . 2010 . “ ‘The International Role of the Euro’ ” . Frankfurt, July .
- Eurostat . 2010 . “ ‘GCC-EU Bilateral Trade and GCC Trade with the World’ ” . DG Trade, European Commission . http://trade.ec.europa.eu/doclib/docs/2006/september/tradoc_113482.pdf (accessed 24 September 2011)
- Fisk , R. 2009 . “ ‘The Demise of the Dollar’ ” . In The Independent Vol. October 6 ,
- George , A. L. and Bennett , A. 2004 . Case Studies and Theory Development in the Social Sciences , Cambridge and London : MIT Press .
- Grabel , I. 2003 . “ ‘Ideology, Power and the Rise of Independent Monetary Institutions in Emerging Economies’ ” . In Monetary Orders: Ambiguous Economics, Ubiquitous Politics , Edited by: Kirshner , J. 25 – 52 . Ithaca : Cornell University Press .
- Grant , J. 2009 . “ ‘ECB Urges Expansion of Eurozone OTC Clearing Effort’ ” . In Financial Times September 4
- Grimes , W. W. 2003 . “ ‘Internatinalization of the Yen and the New politics of Monetary Insulation’ ” . In Monetary Orders. Ambiguous Economics, Ubiquitous Politics , Edited by: Kirshner , J. 174 – 95 . Ithaca : Cornell University Press .
- Gükkent , G. 2010 . “ Interview with one of the authors ” . National Bank of Abu Dhabi headquarters, Abu Dhabi, February 25. Position: Chief Economist .
- Hall , R. B. 2008 . Central Banking as Global Governance: Constructing Financial Credibility , Cambridge : Cambridge University Press .
- Helleiner , E. 2008 . ‘Political Determinants of International Currencies: What Future for the US Dollar?’ . Review of International Political Economy , 15 ( 3 ) : 354 – 78 . doi: 10.1080/09692290801928731
- Helleiner , E. 2009 . “ ‘Enduring Top Currency, Fragile Negotiated Currency’ ” . In The Future of the Dollar , Edited by: Helleiner , E. and Kirshner , J. Ithaca : Cornell University Press .
- Helleiner , E. and Kirshner , J. 2009 . The Future of the Dollar , Ithaca : Cornell University Press .
- Henning , C. R. 1998 . ‘Systemic Conflict and Regional Monetary Integration: The Case of Europe’ . International Organization , 52 ( 3 ) : 537 – 73 . doi: 10.1162/002081898550653
- Henning , C. R. 2006 . “ ‘The Exchange-Rate Weapon and Macroeconomic Conflict’ ” . In International Monetary Power , Edited by: Andrews , D. M. 117 – 38 . Ithaca : Cornell University Press .
- Ingham , G. 2004 . The Nature of Money , Cambridge : Polity .
- Interview S-1 . Undated . “ Anonymised interview with one of the authors, location and date also anonymised to avoid identification ” . Position : Head of the Research Division, Department of Economics .
- Interview S-9 . Undated . “ Anonymised interview with one of the authors, location and date also anonymised to avoid identification ” . Position : Head of FX Division, Treasury Department .
- Interview S-11 . Undated . “ Anonymised interview with one of the authors, location and date also anonymised to avoid identification ” . Position : Investment Manager, Treasury Department .
- Interview W-8 . 2008 . “ Anonymised interview ” . São Paulo, July 17. Position : Director, Department of Research and Economic Studies .
- Interview W-10 . 2008 . “ Anonymised interview ” . Brasilia : July 24. Position: Chief Executive, International Division .
- Interview X-3 . 2009 . “ Anonymised interview ” . Beijing, April 3. Position : Director, International Economic Relations Division .
- Interview X-12 . 2009 . “ Anonymised interview ” . Beijing, April 8. Position : Deputy Director, Policy Research Division .
- Interview X-16 . 2009 . “ Anonymised interview, Beijing, May 5. Position ” . Director, FX Liquidity Management Division .
- Interview X-19 . 2009 . “ Anonymised interview, Beijing, May 22. Position ” . Director, Research Department .
- Interview X-27 . 2009 . “ Anonymised interview, Beijing, May 27 ” . Position: Deputy General Manager, Global Markets Department .
- Interview Y-7 . 2010 . “ Anonymised interview, Dubai, February 17. Position ” . Director of a policy-advising research institute .
- Interview Y-8 . 2010 . “ Anonymised interview, Dubai, February 15. Position ” . Director of a policy-advising research institute .
- Interview Y-9 . 2010 . “ Anonymised interview, Abu Dhabi, March 1. Position ” . Head of Currency Division, Treasury Department .
- Interview Y-16 . 2010 . “ Anonymised interview, Dubai, February 18. Position ” . Chief Economist .
- Interview Z-3 . 2010 . “ Anonymised interview, Riyadh, March 16. Position ” . Portfolio Controller, Investment Department .
- Interview Z-4 . 2010 . “ Anonymised interview, Riyadh, March 23. Position ” . Senior Vice President and Assistant Treasurer, Treasury Department .
- Interview Z-5 . 2010 . “ Anonymised interview, Riyadh, March 27. Position ” . Former high ranked official at the Ministry of Finance. Concrete position not to be disclosed .
- Jabko , N. 2006 . Playing the Market: A Political Strategy for Uniting Europe, 1985–2005 , Ithaca : Cornell University Press .
- Jabko , N. 2010 . ‘The Hidden Face of the Euro’ . Journal of European Public Policy , 17 ( 3 ) : 318 – 34 . doi: 10.1080/13501761003662081
- Junker , J. and Tremonti , G. 2010 . ‘E-bonds would End the Crisis’ . Financial Times , December 5
- Kenen , P. B. 2002 . ‘The Euro Versus the Dollar: Will there be a Struggle for Dominance’ . Journal of Policy Modeling , 24 : 347 – 54 . doi: 10.1016/S0161-8938(02)00112-6
- Kindleberger , C. 1967 . The Politics of International Money and World Language , Princeton : Princeton University Press .
- Kindleberger , C. 1986 . The World in Depression, 1929–1939 , Berkley and Los Angeles : University of California Press .
- Kindleberger , C. 2000 . “ ‘A New Bi-Polarity?’ ” . In The Euro as a Stabilizer in the International Economic System , Edited by: Mundell , R. and Clesse , A. Dordrecht : Kluwer Academic Publishers . , pp. 3–20.
- Kirshner , J. 1995 . Currency and Coercion: The Political Economy of International Monetary Power , Princeton : Princeton University Press .
- Kirshner , J. 2003 . Monetary Orders. Ambiguous Economics, Ubiquitous Politics , Ithaca : Cornell University Press .
- Kirshner , J. 2009 . “ ‘After the (Relative) Fall: Dollar Diminution and the Consequences for American Power’ ” . In The Future of the Dollar , Edited by: Helleiner , E. and Kirshner , J. Ithaca : Cornell University Press .
- Koch , C. 2010 . “ Interview with one of the authors, Gulf Research Centre, Dubai Office, Dubai, February 22. Position: Director, International Relations Department ” .
- Konings , M. 2008a . ‘The Institutional Foundations of US Structural Power in International Finance: From the Re-emergence of Global Finance to the Monetarist Turn . Review of International Political Economy , 15 ( 1 ) : 35 – 61 . doi: 10.1080/09692290701751290
- Konings , M. 2008b . ‘European Finance in the American Mirror: Financial Change and the Reconfiguration of Competitiveness’ . Contemporary Politics , 14 ( 3 ) : 253 – 75 . doi: 10.1080/13569770802396311
- Leverett , F. 2008 . ‘Black is the New Green’ . National Interest , January–February, pp. 37–45
- Lim , E. G. 2006 . “ ‘The Euro's Challenge to the Dollar: Different Views from Economists and Evidence from COFER (Currency Composition of Foreign Exchange Reserves) and Other Data’ ” . IMF Working Paper 06/153 Washington, DC : International Monetary Fund .
- Marsh , D. 1992 . The Bundesbank – The Bank that Rules Europe , London : Heinemann .
- Marsh , D. 2009 . The Euro: The Politics of the New Global Currency , New Haven : Yale University Press .
- McKinnon , R. I. 1998 . ‘The Euro Threat is Exaggerated’ . The International Economy , May/June : 32 – 60 .
- McKinnon , R. I. 2009 . “ ‘US Current Account Deficits and the Dollar Standard's Sustainability: A Monetary Approach’ ” . In The Future of the Dollar , Edited by: Helleiner , E. and Kirshner , J. 45 – 68 . Ithaca : Cornell University Press .
- McKinnon , R. I. 2010 . “ ‘Rehabilitating the Unloved Dollar Standard’, Unpublished, February ” . http://www.stanford.edu/~mckinnon/papers/unloved_dollar_standard.pdf (accessed 28 February 2012).
- McNamara , K. R. 1998 . The Currency of Ideas: Monetary Politics in the European Union , Ithaca : Cornell University Press .
- McNamara , K. R. 2008 . ‘A Rivalry in the Making? The Euro and International Monetary Power’ . Review of International Political Economy , 15 ( 3 ) : 439 – 59 . doi: 10.1080/09692290801931347
- McNamara , K. R. and Meunier , S. 2002 . ‘Between National Sovereignty and International Power: What External Voice for the Euro?’ . International Affairs , 78 ( 4 ) : 849 – 68 . doi: 10.1111/1468-2346.00283
- Ministry of Commerce of the PRoC (MoCPRoC . 2010 . “ International Trade Statistics ” . http://english.mofcom.gov.cn/column/statisticsie.shtml (accessed 23 September 2011)
- Momani , B. 2008 . ‘Gulf Cooperation Council Oil Exporters and the Future of the Dollar’ . New Political Economy , 13 ( 3 ) : 293 – 314 . doi: 10.1080/13563460802302594
- Mundell , R. 1998 . ‘What the Euro Means for the Dollar and the International Monetary System’ . Atlantic Economic Journal , 26 ( 3 ) : 227 – 37 . doi: 10.1007/BF02299341
- Mundell , R. and Clesse , A. 2000 . The Euro as a Stabilizer in the International Economic System , Dordrecht : Kluwer Academic Publishers .
- Oakley , D. and Sakoui , A. 2010 . ‘China Offers Spain €1bn Confidence Vote’ . Financial Times , July 12
- Odell , J. S. 1982 . US International Monetary Policy: Markets, Power and Ideas as Source of Change , Princeton : Princeton University Press .
- Globo , O . 2009 . ‘Dólar vai perder espaço como principal moeda, avalia Mantega’ . O Globo , May 28
- Papaioannou , E. and Portes , R. 2008 . “ ‘The International Role of the Euro: A Status Report’ ” . Brussels : European Commission, Economic Papers 317 .
- People's Bank of China . 2011 . “ ‘Gold and Foreign Exchange Reserves’ ” . http://www.pbc.gov.cn/publish/html/2011s09.htm (accessed 23 September 2011)
- Persaud , A. 2004 . “ ‘The World's Dominant Currency: When Empires Fall’ ” . London : lecture delivered at the Gersham College . October 7
- Pinaud , G. ‘The Global Use of the Dollar and Euro’ . Dallas : paper delivered to the conference ‘The Euro and the Dollar in the Crisis and Beyond’, Federal Reserve Bank of Dallas . March 17
- Pisani-Ferry , J. and Posen , A. S. 2009 . The Euro at Ten: The Next Global Currency? , Washington, DC : Peterson Institute for International Economics and Bruegel .
- Plaschke , H. 2010 . “ ‘Challenging the Dollar in International Monetary Relations? The Lost Opportunities of the Euro’ ” . In The Global Crash: Towards an International Regulatory Regime? , Edited by: Talani , L. S. Basingstoke : Palgrave Macmillan .
- Posen , A. S. 2005 . The Euro at Five: Ready for a Global Role? , Washington, DC : Peterson Institute for International Economics .
- Posen , A. S. 2009 . “ ‘Geopolitical Limits to the Euro's Global Role’ ” . In The Euro at Ten: The Next Global Currency? , Edited by: Pisani-Ferry , J. and Posen , A. S. Washington, DC : Peterson Institute for International Economics and Bruegel .
- Portes , R. and Rey , H. 1998 . ‘The Emergence of the Euro as an International Currency’ . Economic Policy , 26 ( 2 ) : 307 – 32 .
- Qin , Y. 2009 . “ Interview with one of the authors, China Foreign Affairs University, Beijing, May 13. Position: Professor of International Relations and Member of the Foreign Policy Advisory Group of the Ministry of Foreign Affairs of China ” .
- Rede Brasileira de Centros Internacionais de Negocios (RBCIN) . 2005 . ‘Exportadores brasileiros buscam euro como alternativa ao dólar’, February 14 .
- Reuters . 2010a . ‘China offers rare glimpse into reserves, heavy in dollar’ . September 3
- Reuters . 2010b . “ ‘Soros: Chinese saved the euro’ ” . Interview to Reuters by George Soros, September 15 . http://uk.reuters.com/video/2011/11/08/soros-chinese-saved-the-euro?videoId=158769621 (accessed 28th February 2012)
- Roy , J. and Gomis-Porqueras , P. 2007 . The Euro and the Dollar in a Globalized Economy , Aldershot : Ashgate Publishing .
- Sanya Declaration . 2011 . Brazil, Russia, India, China and South Africa, Sanya : Summit Declaration of the Leaders of the five BRICS Countries . April 14
- Schultz , A. K. and Weingast , B. R. 2003 . ‘The Democratic Advantage: Institutional Foundations of Financial Power in International Competition’ . International Organization , 57 ( Winter ) : 1 – 40 .
- Sfakianakis , J. 2010 . “ Interview with one of the authors, Banque Saudi Fransi Headquarters, Riyadh, March 31 ” . Position: Chief Economist .
- Seabrooke , L. 2001 . US Power in International Finance: The Victory of Dividends , New York : Palgrave .
- Setser , B. and Ziemba , R. 2009 . “ ‘GCC Sovereign Funds: Reversal of Fortune’ ” . Working Paper, Council on Foreign Relations, January .
- Shambaugh , D. 2008 . “ ‘China Eyes Europe in the World: Real Convergence or Cognitive Dissonance’ ” . In China–Europe Relations: Perceptions, Policies and Prospects , Edited by: Schambaugh , D. , Sandschneider , E. and Zhou , H. 127 – 47 . New York : Routledge .
- Shen , M. 2009 . “ Interview with one of the authors ” . In Caijing , headquarters, Beijing, May 14. Position: Chief Economist .
- Shi , J. 2009 . “ Interview with one of the authors, School of Economics ” . Peking University, Beijing, April 5. Position: Professor of Economics .
- Spiro , D. 1999 . The Hidden Hand of American Hegemony. Petrodollar Recycling and International Markets , Ithaca : Cornell University Press .
- Strange , S. 1971 . ‘The Politics of International Currencies’ . World Politics , 23 ( 2 ) : 215 – 31 . doi: 10.2307/2009676
- Strupczewski , J. 2010 . ‘US QE2 Decision not a Good One – Eurogroup Head’ . Reuters , November
- Subramanian . 2011 . Eclipse: Living in the Shadow of China's Economic Dominance Washington, DC Peterson Institute for International Economics
- Tait , N. and Grant , J. 2009 . “ ‘Banks Agree to European CDS Clearer’ ” . In Financial Times February 19
- Trevisan , C. 2009 . ‘Brasil e China realizam 1 operação financiera em moedas locais’ (Brazil and China undertake first financial transaction in local currencies) . O Estado de São Paulo , December 3
- Trichet , J. C. 2011 . “ ‘Building Europe, Building Institutions’ ” . speech on receiving the Charlemagne Award, Aachen, June 1 .
- Vermeiren , M. ‘Monetary Power and Europe: European Autonomy in the Global Monetary System’ . paper presented at the Annual Conference of the British International Studies Association, Manchester, 27–29 April .
- Walter , A. 2006 . “ ‘Domestic Sources of International Monetary Leadership’ ” . In International Monetary Power , Edited by: Andrews , D. M. 51 – 71 . Ithaca : Cornell University Press .
- Wheatley , J. 2009 . ‘Brazil and China Eye Plan to Axe Dollar’ . Financial Times , May 18
- Wyplosz , C. 2009 . “ ‘The Blessing of Having the Euro and the Need to Make it Better’, Working Paper No. 41 ” . Madrid : Royal Elcano Institute . July
- Xie , A. 2009 . ‘If China loses faith the dollar will collapse’ . Financial Times , May 4,
- Xinhua . 2007 . “ ‘China's deputy central banker predicts bigger share of the euro in world reserves’ ” . May 31
- Xinhua . 2008 . “ ‘Rising yuan: mix for China's exporters to fix’ ” . April 18
- Xinhua . 2010 . “ ‘Euro will not fail’ ” . November 29
- Xu , M. 2007 . “ ‘The Euro and its Implication to East Asia’ ” . In The EU's Experience in Integration: A Model for ASEAN+3? , Edited by: Dong , L. and Heiduk , G. 273 – 96 . Bern : Peter Lang .
- Xu , S. and Interview with one of the authors . 2009 . The Economist Office , Beijing : April 9. Position: Chief Representative .
- Yousef , T. 2010 . “ Interview with one of the authors, Dubai School of Government ” . Dubai : February 22. Position: Dean .
- Yu , Y. 2009 . “ Interview with one of the authors, Institute of World Economics and Politics (IWEP), Chinese Academy of Social Sciences Headquarters, April 27 ” . Position : Director of IWEP .
- Zachariahs , C. and Harui , R. 2010 . ‘China Favors Euro Over Dollars as Bernanke Alters Path’ . Bloomberg News , August 16
- Zhou , X. 2009 . “ ‘Reform of the International Monetary System’ ” . People's Bank of China . 23 March, http://www.pbc.gov.cn/publish/english/956/2009/20091229104425550619706/20091229104425550619706_.html (accessed 24 Sep- tember 2011)
- Zhu , X. 2008 . “ ‘Chinese Perceptions of the EU and the China-Europe relationship’ ” . In China–Europe Relations: Perceptions, Policies and Prospects , Edited by: Schambaugh , D. , Sandschneider , E. and Zhou , H. 148 – 73 . New York : Routledge .
- Zubair , M. A. 2010 . “ Interview with one of the authors, the Islamic Development Bank (IDB) headquarters, Jeddah (Saudi Arabia), March 20. Position ” . Head of Policy Development and Implementation Division .