The creation of the euro will challenge the dominance of the US dollar in the global economy. This shift could lead to $1 trillion moving from dollars to euros. The volatility between major currencies will increase, requiring new international cooperation to avoid economic costs. The euro will create a bipolar currency system with Europe and the US as key players. This change will require significant transatlantic cooperation to manage the transition and long-term effects. The EU and the US have similar economic roles globally, with the euro potentially reshaping the international monetary system.