The recent State of the Union speech by Jean-Claude Juncker sparked a discussion about the potential wider use of the euro on the international stage. Historically, it is not the first debate of this kind. I review four previous cases of debates on international currencies to reveal the different scenarios associated with their greater use, as well as the need to have a clear objective for a currency’s internationalisation.
EURECON is a 5-year project financed by €1.5 million Starting Grant from the European Research Council (ERC). The goal of the EURECON project is to explore European policymakers’ views about how to make the organisation of the European Economic Community (EEC) fit for the creation of a single currency, from 1957 to 1992. The project will examine the origins of the issues that are currently bedevilling the European Union (EU) by investigating the period between the creation of the EEC in 1957 and the decision to create a European single currency in 1992.
Depuis 2010, la crise de la zone euro jette un voile de confusion sur les raisons ayant mené à la création de la monnaie unique. Un retour sur celles-ci permet de mieux comprendre les origines et les enjeux actuels de la monnaie unique.
The ECB has published its first “minutes” of the Governing Council, following up a promise made last year.
What is particularly striking about this Capital Markets Union (CMU) discussion is that it is a rather old topic of debate within the EU – one that first emerged at a time when the European financial puzzle was set very differently.
The move of Eurozone banking supervision to the supranational level represents a genuine novelty in Europe’s economic governance.