The US dollar has been the top international currency since the 1940s. The euro, just two decades old in 2019, places second in the global hierarchy. Strengthening that position would afford euro-zone member countries greater autonomy from US economic policy that does not always serve their best interests. This thorough yet accessible technical report from monetary experts Francesco Papadia and Konstantinos Efstathiou offers analysts and executives a useful primer on how to bolster the euro’s standing.
In this summary, you will learn
- What factors determine the international status of a nation’s currency,
- How the euro ranks in the world’s monetary order, and
- What could enhance the euro’s global prominence.
About the Authors
Francesco Papadia and Konstantinos Efstathiou are research fellows at Bruegel.