The euro is, by definition an international currency. However, since being established in the late 90s the single currency has always been somewhat less than the sum of it’s parts and has yet to challenge the US dollar for global dominance. Its international status declined with the euro crisis of 2008.
Could the reform of the institutional setup of the monetary union that many are arguing for in the wake of the covid-19 crisis boost the euro’s status as a global currency?
Guntram Wolff, Bruegel Director
Alicia Garcia Herrero, senior fellow at Bruegel
Grégory Claeys, senior fellow at Bruegel
Giuseppe Porcaro, head of outreach and governance at Bruegel