Hence, they are interested in innovative Petro International's with very rapid growth rates. It is our belief that there is a simple solution to the problems which currencies are causing the international economy. Within the next ten years the Euro should be merged with the Dollar to create a Eurodollar, which would act as a single currency for both the United States and Europe, and eventually for the rest of the world. Eurodollars are simply US dollars on deposit in commercial banks outside of the United States. The Eurodollar market has burgeoned over the past 30 years as the dollar has become a world currency.
Eurodollar deposits play a major role in the international capital market.
Eurodollar deposits are direct obligations of the commercial banks accepting the deposits. They are not guaranteed by any government. Loan guarantees from smaller or less credit worthy banks may have to be confirmed by a major European correspondent of the issuing bank. Treasury Bills, gold and high quality bonds, which are owned by the Borrower, are also acceptable as loan guarantees. Timing for Loan Generally three to four weeks from the date of the loan agreement.