Is the euro has become a serious competitor to the dollar?

A result of the repercussions of the global financial crisis on the American economy in general and the U.S. dollar exchange rate, in particular, has made all of Russia, China, Brazil and India, seeks proposals for holding an international conference to discuss a unified global currency instead of U.S. dollar. It was noted that the countries of the European Union was implied consent to this proposal, thinking that the euro currency, the alternative may be to prove after its currency to the dollar competition.

It was noted that the common European currency, which decided to adopt it at the Madrid Summit in 1995 was the beginning of its deliberation in 2002 proved to the exchange rate of European currencies that have been dispensed with, so it can be said firmly that he has more than U.S. currency. Studies also showed that the percentage of participation of the United States in world trade since the beginning of the third millennium are the limits of 18.9%, while the European rate is only 23.4%. Moreover, the balance of foreign currency at the Central Bank reached U.S. 59.8 billion, while the European Central Bank in the 409 billion, despite the current financial crisis. But lost sight of experts that the adoption of the euro is not a unified currency for all member States of the European Union, and the world price continues to see many of the swing the result of widespread weakness in the arteries of the European economy and in particular in the industrial sector, which is the inability to crisis serious competition in the face of the Chinese industrial sector, industrial sector or emerging strongly in Brazil and India. Eight United States can not in any way to approve the adoption of alternative currency than the dollar because it constitutes the backbone of the U.S. economy, which despite its current crisis, but he is still stronger than the economies of industrialized countries as the dollar is the currency in which the only global does not have any gold because of its security coverage is the economic power enjoyed by the United States, the euro has not yet gained the confidence to seek and support supposed to submit to it, especially since there are voices out from time to time after the European countries and calls for a halt to the euro and return to the national currency, which had been the case previously. There is another fundamental issue concerning the system adopted in the basket of the currencies of most countries of the world and borrow from these countries, which was adopted on the basis of the dollar, and the reserves of many countries of the foreign currency, which is led by the dollar .. Is it easy to change between each overnight ..??