Although the currency has appreciated since mid-March, renewed weakness is possible, and the effect of a collapse in the value of the rupiah (not our central forecast) would be to lower the spending power of most Indonesians.

ECONOMIST: Indonesia's robust economy continues to grow

The ongoing fiscal discipline needed for a common currency to work in Europe was appreciated, but probably not sufficiently.

FORBES: Greek Crisis: Austerity Doesn't Work

Scandinavian countries and Switzerland are probably the only true AAA nations left, but their economies are not big enough for them to field reserve currencies, and in fact Switzerland is trying to devalue its currency, as its exporters are hurting from the highly appreciated Swiss franc.

FORBES: No Default As Long As The Fed Has A Printing Press