Prompted by the “weaponisation” of the dominance of the dollar in international transactions, the EU is exploring ways to upgrade the euro’s role as an international reserve currency. This session will examine the arguments and objections for actively seeking a wider international role for the euro. It will also address the different means available for pursuing this aim, from further steps to reforming the institutional architecture of the euro area, to practical ways to increase the euro’s use in clearing obligations, cross-border payments, and contracts settlement in key sectors such as energy, sovereign debt issuance, commodities and transport.

Chair: George Papaconstantinou, Professor, STG, EUI