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SUERF BAFFI Bocconi e-Lecture

The International Role of the Euro: has COVID-19 affected the outlook?

Calendar Jun 16, 2020 Schedule16:00 - 17:15 CET (UTC+01:00)

Date: Tuesday, 16th June 2020 − 16:00-17:15 CET

Hans Joachim Klöckers, European Central Bank
Peter McQuade, European Central Bank
Sylvie Goulard, Banque de France
Barry EichengreenUniversity of California, Berkeley

Marco Buti, European Commission

Many in the EU call for a stronger role of the euro in the international economic, monetary and financial system, to better reflect Europe’s important economic and political weight. Others are sceptical that this can likely be achieved: The US dollar benefits from its established leading role, and the Chinese renminbi might become a serious contender. What do the facts and analyses compiled in the latest ECB Report on the International Role of the Euro find? What impact may the COVID-19 crisis have? What does this imply for the policy agenda?  

Webinar Slides (pdf) 
Presentation by Hans-Joachim Klöckers and Peter McQuade: The euro’s international role: trends, determinants and policy considerations
Presentation by Barry Eichengreen: Some Remarks on the Euro’s International Role

Webinar Report (pdf) - The International Role of the Euro: has COVID-19 affected the outlook?, By Ernest Gnan, Secretary General, SUERF

The International Role of the Euro, June 2020
The 19th annual review of the international role of the euro published by the ECB presents an overview of developments in the use of the euro by non-euro area residents. Continue reading …


  Hans-Joachim Klöckers is Director General International and European Relations at the European Central Bank (ECB) since March 2018. In this function, he oversees the bank´s work on the global economy as well as on European and international policy dossiers. He is also the Chair of the ECB´s International Relations Committee and alternate member in the EU´s Economic and Financial Committee and in the Eurogroup Working Group. Hans-Joachim Klöckers works at the ECB since its inception. From 2005-2018, he was Director Economic Developments, in charge of the economic projections and the country analyses of the ECB. In the initial years of the ECB, he was Director Monetary Policy (1998-2004).
  Peter McQuade is Senior Economist in the International Policy Analysis division at the ECB, and part of his role is the production of the report on the international role of the euro. He is currently on secondment from the Central Bank of Ireland, and he previously worked in the European Central Bank in Directorate General Economics between 2011-14 and in the European Commission, Directorate General for Economic and Financial Affairs during 2015-2017 before returning to Dublin. His research focusses on topics in financial globalisation and he holds a PhD in Economics from Trinity College Dublin.
Sylvie Goulard has been Deputy Governor of the Banque de France since January 2018, 18th. She served as member of the European Parliament (Alliance of Liberals and Democrats for Europe) from 2009-2017. As MEP, she was a member of the Economic and Monetary Affairs Committee (coordinator, rapporteur of several files on Finance and Governance of the euro area and banking union); she also chaired the parliamentary Intergroup fight against poverty – aiming at giving a voice to deprived people in the European institutions. Her book L’Europe pour les Nuls (First, 2007) was awarded the European Book Prize.
Barry Eichengreen is the George C. Pardee and Helen N. Pardee Professor of Economics and Professor of Political Science at the University of California, Berkeley, where he has taught since 1987. He is a Research Associate of the National Bureau of Economic Research (Cambridge, Massachusetts) and Research Fellow of the Centre for Economic Policy Research (London, England). In 1997-98 he was Senior Policy Advisor at the International Monetary Fund. He is a fellow of the American Academy of Arts and Sciences (class of 1997). Professor Eichengreen has held Guggenhim and Fulbright Fellowships and been a fellow of the Center for Advanced Study in the Behavioral Sciences (Palo Alto) and the Institute for Advanced Study (Berlin). From 2004 to 2020 he served as convener of the Bellagio Group of academics and officials. He is a regular monthly columnist for Project Syndicate.
Marco Buti is now Chief of Staff of Commissioner Gentiloni. Mr Buti has been Director-General for Economic and Financial Affairs at the European Commission since December 2008-2019. After studies at the Universities of Florence and Oxford, Mr Buti joined the European Commission in 1987. He held various posts as an economist in DG ECFIN and the Commissioner’s cabinet (private office) before taking up a post as an economic adviser to the Commission President in 2002-03. In 2003 he returned to DG ECFIN as Director for the Directorate for economies of the Member States, and in September 2006 was appointed Deputy Director-General. Mr Buti has been a visiting professor at the Université Libre de Bruxelles, the University of Florence and the European University Institute, and has published extensively on Economic and Monetary Union, macroeconomic policies, welfare state reforms, and European unemployment.

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