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CONFERENCE
The Euro at 10: The Next Global Currency?
Joaquín Almunia, European Commission for Economic and Monetary Affairs
Lorenzo Bini Smaghi, Member of the Executive Board, European Central Bank
Dominique Strauss-Kahn, Managing Director, International Monetary Fund
Christian Noyer, Banque de France and European Central Bank
A joint conference sponsored by the Peterson Institute for International Economics and Bruegel
Peterson Institute for International Economics, Washington, DC
October 10, 2008
Summary
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 and Brussels-based think tank 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.
| Papers and Presentations | ||
| Introduction | C. Fred Bergsten, Director, Peterson Institute Jean-Claude Juncker, President, Eurogroup | |
 | ||
| Speakers | Joaquín Almunia Commissioner for Economic and Monetary Affairs, European Union |
The European Economy as Home to the Next Global Currency |
| Lorenzo Bini Smaghi Member of the Executive Board, European Central Bank |
The European Central Bank's Perspective on the Euro's Global Role | |
| Dominique Strauss-Kahn, Managing Director, International Monetary Fund |
The Euro and the International Monetary System | |
| ||
| Panel | Underlying Determinants of Global Currency Status | |
| Chair: Marco Buti, European Commission | ||
| Kristin Forbes MIT |
Financial Network Effects and Deepening presentation [pdf] | |
| Philippe Martin Paris School of Economics |
International Trade in Financial Assets paper [pdf]| presentation [pdf] | |
| Linda Goldberg Federal Reserve Bank of New York |
Invoicing and Trade Usage presentation [pdf] | |
| Jean Pisani-Ferry Bruegel |
Institutional Governance presentation [pdf] | |
| André Sapir Bruegel |
Institutional Governance | |
| Adam S. Posen Peterson Institute |
Foreign Relations and Security Linkages paper [pdf] | |
| ||
| Speaker | Christian Noyer Governor, Banque de France; First Vice President, European Central Bank |
A Founder's Perspective on the Euro as a Global Currency [pdf] |
| ||
| Panel | Regional Perspectives on Changing Reserve and Pegging Relationships | |
| Chair: Adam S. Posen, Peterson Institute | ||
| C. Randall Henning Peterson Institute |
East Asia presentation [pdf] | |
| György Szapáry Central European University |
The New Member States and Eastern Europe paper [pdf] | presentation [pdf] | |
| Mohsin Khan International Monetary Fund |
The Middle East and Oil Exporters presentation [pdf] | |
| Maria Celina Berardinelli Arraes Banco Central do Brasil |
Latin America presentation [pdf] | |
| Thomas Mayer Deutsche Bank Global Markets |
A Market View of Reallocations presentation [pdf] | |
| ||
| Panel Discussion | Is the Present Crisis the Moment for the Euro's Global Emergence? | |
| Chair: Jean Pisani-Ferry, Bruegel | ||
| Leszek Balcerowicz, Bruegel and Peterson Institute | ||
| C. Fred Bergsten, Peterson Institute | ||
| Antonio de Lecea, DG ECFIN, European Commission | ||
| Erkki Liikanen, Bank of Finland | ||
| Lawrence Summers, Harvard University | ||
| ||
| Closing Remarks | Jean Pisani-Ferry, Bruegel Adam S. Posen, Peterson Institute | |