Ignorant booshwa.
They could denominate the price of oil in any currency they want, and it would make little difference.
Beyond that, there isn't any reason to think that the Euro's present relative strength against the dollar is anything but temporary. European monetary and fiscal policy is a shambles and getting worse. Within two years the Euro will be trading below 85 cents, anmd in ten years it will be nearing 50 cents.
It is inevitable, given the fact that the Euro is a transnational currency.
"Beyond that, there isn't any reason to think that the Euro's present relative strength against the dollar is anything but temporary. European monetary and fiscal policy is a shambles and getting worse. Within two years the Euro will be trading below 85 cents, anmd in ten years it will be nearing 50 cents."
Not so fast.
Britain will probably join (unfortunately). Don't forget, when the Irish chose no, they voted all over again.
Also, many countries are thinking of trading in Euros. The country I live in, Indonesia, is seriously contemplating this switch.
I hope I'm wrong.
Keep smiling,
Philip.