[The idea that the euro could possibly replace the US dollar as the world's reserve currency] has been evaluated at some length across the markets and its adjunct professions with a unanimous conclusion on the lack of suitable merit for the candidacy.

It is fair to say that two main sources of objection are the European Central Bank (ECB) and the political system of Europe. On the former, while the ECB has been unique in its focus on inflation at the expense of economic stimuli, its actions belie its words - in effect, it can be proved that the primary source of inflation that may confront Europe in the next few months is the one created by the ECB itself. Things are worse on the political front. Be it the tax pursuits of Germany and Britain, political imbroglio of Spain and Italy or the circular logic loop of French reforms, there is no reason for hope across the Old continent.

His idea seems to be: Europeans are missing an opportunity to command the World economy ship, when so many players got wet. The problem is, there is no big sense to command a sinking ship, especially by jumping in to drive it the same sinking course. What's the use of being the last captain of this madness?!