THE EURO AT TEN by Jean Pisani-Ferry (Editor), Adam Posen (Editor) ( 9780881324303 )

Item Details

Title:

THE EURO AT TEN
THE NEXT GLOBAL CURRENCY?

By:

Jean Pisani-Ferry (Editor), Adam Posen (Editor)

Format:

Paperback

List price:

£22.00

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£17.60

Discount:

20% off

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£4.40

ISBN 10:

0881324302

ISBN 13:

9780881324303

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Publisher:

THE PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICS

Pub. date:

15 June, 2009

Pages:

252

Description:

How does the current financial crisis affect the relative positions of the dollar and the euro as global currencies? Based on a conference held at the Peterson Institute for International Economics in October 2008, this book answers this question and provides an assessment of the euro's stability and strength.

Synopsis:

Over the first ten years of its existence, the euro has proved to be more than a powerful symbol of collective identity. It has provided price stability to previously inflation-prone countries; it has offered a shelter against currency crises; and it has by and large been conducive to budgetary discipline. The eurozone has attracted five new members in addition to the initial eleven, and many countries in Europe wish to adopt it.The euro has also been successful internationally. Even though research presented in this volume confirms that it has not rivaled the dollar's world currency status, it has certainly become a strong regional currency in Europe and the Mediterranean region. Some countries in the region have de facto adopted it, several peg to it, and many have become at least partially euroized. However, the euro's impressive first decade is likely to be followed by a much more difficult period. The present financial crisis is posing at least two important challenges: real economic adjustment within the euro area and maintenance of fiscal and financial stability without a central government authority capable of taking appropriate financial and fiscal decisions in difficult times.The papers and remarks in this volume demonstrate that the euro has proved to be attractive as a fair weather currency for countries and investors well beyond its borders. But it remains to be seen whether it is equipped to also succeed as a stormy weather currency.

Publication:

Imprint:

The Peterson Institute for International Economics

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Returnable

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