The European launch of The euro at ten? The next global currency?

Brussels, 16 June 2009

Adam Posen, deputy director of the PIIE and Bruegel Board member, participated in the launch as newly appointed external member on the Bank of England Monetary Policy Committee (MPC). Presentation of the book by Jean Pisani-Ferry and Adam Posen were followed by a panel discussion with Joaquin Almunia, European Commissioner for Economic and Monetary Affairs and Tommaso Padoa Schioppa, Chairman of the Board of Notre Europe and former Italian Economy and Finance Minister.

The US launch of The Euro at ten: the next global currency?

Washington DC, 23 April 2009

The Peterson Institute for International Economics (PIIE) and Bruegel presented the new study The Euro at Ten: The Next Global Currency? 

The euro recently celebrated the tenth anniversary of its successful launch on January 1, 1999. In the midst of the current financial crisis, the world's only transnational major currency has delivered price stability to the eurozone and has retained its value in international markets. The discussion of international reserve currencies has taken on new urgency with the recent Chinese comments on the dollar, and this new report, which derives from a conference that sponsored on the topic last fall, will contribute helpfully to the debate.

Adam S. Posen and Jean Pisani-Ferry presented the findings of the new study, and Marco Buti of the European Commission provided additional insights. Posen is deputy director of and senior fellow at the Institute and has written extensively on both the European economy and international monetary topics. Pisani-Ferry is president of Bruegel, the Institute's sister research institute in Brussels, and was formerly a top advisor to the French government on a wide range of economic issues.

Conference: The Euro at ten: the next global currency?

Washington DC, 10 October 2009

IMF Managing Director Dominique Strauss-Kahn gave his first major public speech surrounding the IMF/World Bank Annual Meetings at the conference "The Euro at 10: The Next Global Currency?" The all-day conference, cohosted by the Peterson Institute for International Economics and Bruegel, explored questions centered on how the current global financial crisis will affect the relative positions of the euro and the dollar as global currencies.

With the nexus of the current financial turmoil in the United States and Europe, is the present crisis the moment for the euro to displace the dollar? Will this time of uncertainty and failure in US markets be the critical transition point for the euro to parity in status with the dollar, ultimately leading to its becoming the dominant global currency? Or have recent failures in Europe eclipsed that possibility? In addition to Strauss-Khan's remarks, a world-class lineup of notable economists and policymakers including Leszek Balcerowicz, Fred Bergsten, Kristin Forbes, Linda Goldberg, Mohsin Khan, Erkki Liikanen, Thomas Mayer, Jean Pisani-Ferry, Adam Posen, and Gyorgy Szapary sought to shed light on these and other important questions.