Projekt

The project analyses how the Eurodollar system shapes the international distribution of power. A Eurodollar is a US dollar created through the issuance of credit outside the United States by non-resident banks. It looks like a US dollar on paper, but there are two fundamental differences: the Eurodollar is a liability of private banks and it is outside United States' regulation. To make these differences tangible, investment bankers distinguish between green dollar - printed by the Fed - and red dollar - created by foreign banks. The Eurodollar markets are difficult to trace statistically because there is no record of where, and by which bank a dollar has been created. The project attempts to make the Eurodollar visible and analyse its geopolitical consequences. The project has vital policy implications: a privately organised monetary system that can create the world's reserve currency poses questions about democratic control, inequality, and financial stability.

• Dr. Andrea Binder

  Freie Universität Berlin
  FB Politik- und Sozialwissenschaften
  Otto-Suhr-Institute
  Center of International and Comparative
  Political Economy
  Berlin