Euro will not eclipse the dollar

The euro is unlikely to depose the dollar as the world&rsquo;s leading currency, but could achieve parity with the US currency, European Central Bank governing council member Ewald Nowotny said yesterday.<br /><br /> Nowotny, who heads Austria&rsquo;s central bank, said there were likely to be several major currencies used for trading in 10 years time. &ldquo;The euro has the potential to provide a significant contribution to world financial stability. This opportunity has to be seized by European politics,&rdquo; he said.<br />