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The Euro as a Reserve Currency

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There has been an unusual accumulation of foreign exchange reserves in recent years. Central banks have to diversify their reserves away from the US dollar, especially towards the euro. The same situation is in a private sector, where investors reduce the share of dollar denominated assets. This process has progressed gradually, but it is possible that the euro’s role as a reserve currency will continue to increase. The purpose of this article is to define an international currency and its functions, first of all as a reserve currency. Furthermore, this paper shows factors which, influence on country’s choices between specific currencies as their reserve assets. The US dollar holdings position is still much stronger than the euro’s one, and the aim of this article is to present how great this difference is.
EN
This work addresses the problem of cabaret groups and sketches. First of all, it describes and analyses the linguistic picture of the Polish history, including Polish stereotypes (e.g. the stereotype of a German or Russian person), in sketches of modern cabaret groups. This article presents the linguistic methods of creating a comic interpretation of history used by the authors of sketches. As a result of data analysis, three kinds of sketches are distinguished: historical ones, sketches based on convention, and manners sketches.
EN
The International Monetary Fund is in the centre of the international financial system. It has a potential to play a key role in the world economy. It is a guarantor of the world financial order and a lender in crisis situations. In the last two decades the world economy has changed and a lot of countries has been faced with the crisis. This situation has showed some shortages in the organization, government and loans programs of the IMF. The aim of this article is to show these shortages, changes and plans for the future.
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