What is the practical significance of the introduction of the euro?

Since its introduction, 1. Euro has passed various tests, and now it has established and firmly occupied the second largest currency position in the world, posing a challenge to the status of the US dollar.

Second, unlike national currencies, the status of international currencies is determined by market forces, mainly demand factors. It is supported by the economic strength and comprehensive national strength of the currency issuing country. The euro poses a real challenge to the dollar because it has the comprehensive conditions to become a major international currency.

Third, the successful launch and initial good operation of the euro laid the foundation for further expanding its influence.