Reserve currency before the beginning of the worldwide credit crunch related recession and Eurozone crisis, which harmed the euro and slowed its adoption. Since 2009, the reserve currency use of the euro has continued to drop, down to 23.9 percent in 2013. The Dutch guilder was the "de facto" reserve currency in Europe in 17th and 18th centuries. The United Kingdom's pound sterling was the primary reserve currency of much of the world in the 19th century and first half of the 20th century. The emergence of the USA as an economic superpower, and the establishment of the U.S. Federal Reserve System
The World Is What It Is in 1996. The biography has been extensively reviewed: the reviewers include Paul Theroux, who wrote an earlier book about Naipaul. The biography was selected by the editors of the "New York Times Book Review" as one of the "Times"' "10 Best Books of 2008". It won the 2008 National Book Critics Circle Award in Biography, and the British literary award the Hawthornden Prize. The World Is What It Is The World Is What It Is: The Authorized Biography of V. S. Naipaul is a biography of the Nobel Prize-winning author V. S. Naipaul by Patrick French. It was published in