The Role of Euro in Global Economy and the Effects of The Eurozone Crisis

The Bretton Woods Treaty, which established the principles of international economic relations, has emerged as a function of the economic and thus the monetary superiority of the United States. In the period when these principles draw the framework of the international system, the integration dynamics in Europe have also accelerated. Taking into account the bipolar structure of the period, the economic integration, which started as an effort to increase the economic and political weight of Europe in global issues, has reached the level of monetary union through different stages. Thus, with its common currency and common central bank, the EU has not only improved the level of integration within the Union but has also brought the potential that can transform the international monetary relations shaped by the absolute sovereignty of the US Dollar (USD) into action. From this point of view, the role and the effects of the Euro on the global scale have been examined in this study. This study has been carried out taking into consideration the impact of the global financial crisis in the Eurozone and the determination of the USD as the most effective means of exchange in the global scale and it has been embodied using statistical analyzes