It takes more than just a catchy name

Date: 02/05/1996

De Silguy, by the way, has his heart set on the Euro becoming a world-class currency with an affectionate international name to match the dollar's slang appellation of the 'greenback'.

He wants the Euro note to have a strong blue colour content, so that it will become known as the 'blueback' or the 'billet bleu'.

De Silguy argues this will make it “more widely accepted as a good solid currency” and give it “a greater weight in the world”.

He may be kidding himself, however - the dollar's importance has less to do with its nickname than with the emergence of the US as the world's most powerful economy, America's vital role in financing Europe's recovery from the devastation of World War II and the acceptance of the dollar in place of debased currencies throughout the world.