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Eurozone Crisis Has Global Implications, Rogoff Writes in FT

If the euro survives and subsequently achieves a status equivalent to that of the dollar as a reserve currency, it will provide an impetus toward currency consolidation elsewhere, said Kenneth Rogoff, an economics professor at Harvard University.

Writing in the Financial Times, Rogoff said that if, on the other hand, the eurozone is pulled apart, many decades could elapse before any other region adopts a similar program.