SUERF 2024 ECB Annual Report on international use of euro SWFs, CBDC 20240613

On 13 June 2024 close to 100 international experts gathered online at a SUERF BAFFI Bocconi webinar on “2024 ECB Annual Report on International Role of the Euro”.
The last year was marked by geopolitical shifts, tensions and conflicts, which are also having repercussions on global trade, financial markets and global capital flows. The duration of these effects will, beyond the short-term, also be longer-lasting. An end to the rifts is not on the horizon, if anything, global fragmentation may deepen further. What do these developments imply for the global financial system? What are the effects on the role of major currencies as global means of exchange, unit of account and store of value? How to interpret the big economic powers’ foreign policy and economic actions with regard to the implications for the relative weight of the USD and the euro? What role for the renminbi and other currencies of the “Global South”, relative to the US dollar and euro? What might be alternative cross-border payment rails, including digital currencies, for the international monetary system? What concrete measures might the EU and the EA consider to help develop the euro’s role in the international monetary system?
On 12 June 2024, the ECB released its 2024 annual report on “The international Role of the Euro”. The report contains a wealth of data and analysis on various aspects of the international monetary system. In addition, it offers two boxes on “Sovereign Wealth Funds and the Euro Area” and on the “Internationalization of Central Bank Digital Currencies and their Implications for the Euro Area”.
Speakers and timeline:
00:00:13 - Welcome and Introduction: Ernest Gnan, Secretary General, SUERF
00:02:37 - Presentation of the ECB Report on the International Role of the Euro - June 2024:
Isabel Vansteenkiste, Arnaud Mehl, and Maurizio Habib, DG International & European Relations, ECB
00:30:58 - Comments: Alicia García Herrero, Chief Economist, Asia Pacific, Natixis CIB
00:41:09 - Discussion and Q&A
01:05:18 - Concluding remarks and farewell: Ernest Gnan
Presentation slides: www.suerf.org/...
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© SUERF 2024. Views expressed are those of the speakers only and not necessarily of their affiliated institutions.