The Peterson Institute for International Economics and Bruegel presented the new study The Euro at Ten: The Next Global Currency? at an event held April 23, 2009. 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.
Coeditors 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.