The US sets the bar high, keeping the euro from becoming an ‘international currency of stature’. When the euro launched in 1999, many expected it to become a strong competitor to the dollar on the international currency stage. Two decades later, the currency remains confined to the eurozone. The culprit: There’s an insufficient supply of superior euro-denominated assets and no “safe” government-backed asset for the currency. In contrast, the US has a far superior capacity for securitizing assets, given its unified and relatively reliable legal and regulatory system. Read full article here
Societal Issues
To curb drug deaths, communities turn to Reddit, texts and wastewater
With drug overdose deaths on the rise, authorities are attempting to curb the epidemic by tracking and sharing information in real time. In one unique effort, a nonprofit in New York City is using drug-testing equipment and stamping or marking habits of dealers to identify drug batches that may endanger users. Other approaches are also being used, such as monitoring drug-related chatter on Reddit and analyzing local wastewater for opioid and other drug levels. With the combination of these efforts, researchers hope to put a dent in the opioid crisis and reduce overdose deaths. Read full article here
Merv
June 1, 2023
