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444 - Global currencies for tomorrow: A European perspective

Ignazio Angeloni, ECB and Bruegel Agnès Bénassy-Quéré, CEPII and University Paris X – Nanterre Benjamin Carton, CEPII Zsolt Darvas, Bruegel, Corvinus University and IEHAS Christophe Destais, CEPII Jean Pisani-Ferry, Bruegel and Université Paris-Dauphine André Sapir, Bruegel and Université Libre de Bruxelles Shahin Vallée, BNP PARIBAS and Bruegel

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This report examines possible scenarios for the evolution of the international monetary system (IMS) and their implications for the euro area, within a 15-year perspective.

The report reviews the lessons from the history of the international monetary system (IMS), analyses the current IMS, assesses global trends that are going to affect the evolution of the IMS and presents and assesses three main scenarios for the IMS: a repair-and-improve scenario, a multipolar scenario and a multilateral scenario.

(European Economy. Economic Papers. 444. July 2011. Brussels. PDF. 75pp. Tab. Graph. Bibliogr. Free.)

KC-AI-11-444-EN-N (online)
ISBN 978-92-79-19224-1 (online)
doi:10.2765/15175 (online)

JEL classification: F33

Economic Papers are written by the staff of the Directorate-General for Economic and Financial Affairs, or by experts working in association with them. The Papers are intended to increase awareness of the technical work being done by staff and to seek comments and suggestions for further analysis. The views expressed are the author’s alone and do not necessarily correspond to those of the European Commission.

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