Hard to say why Europeans don't want the Euro as a global currency.

There has also been talk of using the IMF special drawing rights (SDR) as a global currency that is linked to the EURO, the US$, and the currencies of the BRIC coutnries. I think that was proposed by the Chinese.

For the most part Americans and by extention Torontonian's are completely in the dark about currency value risks. Many Americans don't even know that the value of thier currency changes, not to mention that it changes by the second. A friend of mine does a lot of business in the US, he points out that most of his customers are unaware that 1$ US doesn't always buy the same amount of $CN.

Another indicator is that a quick study of mine turned up almost no articles dealing with currency, specifically risks associated with the value of the US$ over the spring and early summer of this year. That's striking because the Financial Times, an decidely more international paper, had near daily articles on the topic or closely related to it.

One of the big problems is that 'economics' has been given the short end in North America because people seem to think that business gives you economic knowledge, it doesn't. An MBA doesn't talk about economics and most MBA's don't know much more than what's needed to run thier company. Just look at how the quote on the CBC is a prof. at the business school, not one in the economics department. Why is that? A country is not a company, a country should not be run like a company because the world is full, there is no more expanding.