The Euro at 10: The Next Global Currency?


October 10, 2008, 3:00 AM EDT
Peterson Institute for International Economics, Washington, DC
Joaquín Almunia (European Commission), Lorenzo Bini Smaghi (Member of the Executive Board, European Central Bank), Dominique Strauss-Kahn (Managing Director, International Monetary Fund) and Christian Noyer (Banque de France and European Central Bank)

Event 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.

Event Materials

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
Financial Network Effects and Deepening
  Philippe Martin
Paris School of Economics
International Trade in Financial Assets
paper | presentation
  Linda Goldberg
Federal Reserve Bank of New York
Invoicing and Trade Usage
  Jean Pisani-Ferry
Institutional Governance
  André Sapir
Institutional Governance
  Adam S. Posen
Peterson Institute
Foreign Relations and Security Linkages
Speaker Christian Noyer
Governor, Banque de France; First Vice President, European Central Bank
A Founder's Perspective on the Euro as a Global Currency
Panel Regional Perspectives on Changing Reserve and Pegging Relationships
  Chair: Adam S. Posen, Peterson Institute
  C. Randall Henning
Peterson Institute
East Asia
  György Szapáry
Central European University
The New Member States and Eastern Europe
paper | presentation
  Mohsin Khan
International Monetary Fund
The Middle East and Oil Exporters
  Maria Celina Berardinelli Arraes
Banco Central do Brasil
Latin America
  Thomas Mayer
Deutsche Bank Global Markets
A Market View of Reallocations
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