**4.7 The European dollar market "Eurodollar"**

The reasons for the emergence of these European dollars go back to the (the 1950s), when some countries, because of the conditions left by the Cold War between the two camps, deposited their dollar assets in Western European banks to avoid the (USA) from freezing them if they were employed in them [21, 22].

## *4.7.1 The concept of the European dollar*

The European dollar is the same as the (US) Dollar, which is in the form of deposits in banks outside the United States of America. It is necessary to know another idiomatic expression, "Eurodollar", which originally meant dollar deposits in European banks, including branches of American banks in Europe as well [27, 44].
