SUERF Bocconi 2023 ECB International Role of the Euro Report conflict, sanctions and internation

On 21 June 2023, over 130 international experts gathered online at a SUERF-Baffi Bocconi e-lecture to discuss “The International Role of the Euro: Geopolitical tensions, inflation and rising yields – what impact on international currencies?”.

Media and several global political scientists and economists have over the past one and a half years increasingly been discussing whether and how global fragmentation, current geopolitical tensions, notably Russia’s war against Ukraine, Western sanctions against Russia, and mounting tensions between the USA, Europe and China might affect the relative weight of the USD, EUR and other currencies, notably the Chinese renminbi, as international currencies. What factors may lead to shifts in international leading currencies’ weight?

Timeline and speakers:

00:00:13 - Ernest Gnan, SUERF Secretary General, Opening and Introduction
00:02:50 - Maurizio Habib, Team Lead Economist, ECB, and Isabel Vansteenkiste, Director General, International and European Relations, ECB, and SUERF: Presentation of the “June 2023 ECB Report on the International Role of the euro”.
00:30:27 - Linda Goldberg, Financial Research Advisor, Federal Reserve Bank of New York: Discussion and comments
00:48:42 - Daniel McDowell, Associate Professor, Director of Undergraduate Studies, Syracuse University: Discussion and comments, based on his book “Bucking the Buck”, released in 2023.
01:04:48 - Discussion and Q&A with the audience
01:24:37 - Ernest Gnan, Closing and farewell