Reserve currency economy, the German Deutsche Mark gained the status of the second most important reserve currency after the US dollar. When the euro was introduced on 1 January 1999, replacing the Mark, French franc and ten other European currencies, it inherited the status of a major reserve currency from the Mark. Since then, its contribution to official reserves has risen continually as banks seek to diversify their reserves, and trade in the eurozone continues to expand. Former U.S. Federal Reserve Chairman Alan Greenspan said in September 2007 that the euro could replace the U.S. dollar as the world's primary reserve currency.
Language and the euro Bulgarian Европа , meaning "Europe"); the plural varies in spoken language – евро, евра , еврота – but the most widespread form is евро – without inflection in plural. The word for euro, though, has a normal form with the postpositive definite article – еврото (the euro). The word for eurocent is евроцент and most probably that, or only цент , will be used in future when the European currency is accepted in Bulgaria. In contrast to euro, the word for "cent" has a full inflection both in the definite and the plural form: евроцент (basic form), евроцентът (full definite