Does the Euro Pose a Threat to the U.S. Dollar?
AEI Program in International Economics
About This Event

The global economic crisis has prompted much talk that the U.S. dollar is likely to lose its dominant position as the world's reserve currency. Panelists at this seminar will discuss whether the euro can really challenge the dollar's preeminent role. They will review the euro's achievements in the ten years Listen to Audio


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since its launch in 1999 and will examine the prospects for the further expansion of the eurozone into Eastern Europe in the light of the fallout of the financial and economic crisis in that region. Speaking on the panels will be Jeffrey J. Anderson, a professor and director of the BMW Center for German and European Studies at Georgetown University; Luc D. Everaert, assistant director in the International Monetary Fund’s European Department; Stuart P. M. Mackintosh, executive director of the Group of Thirty; and David Marsh, the chairman of the London and Oxford Group and the author of
The Euro: The Politics of the New Global Currency (Yale University Press, 2009). AEI's Desmond Lachman will moderate.

Agenda
1:45 p.m. Registration
2:00 Panelists: Jeffrey J. Anderson, Georgetown University
Luc D. Everaert, International Monetary Fund
Stuart P. M. Mackintosh, Group of Thirty
David Marsh, London and Oxford Group
Moderator:
Desmond Lachman, AEI
4:00 p.m.
Adjournment
Event Contact Information
Dharana Rijal
American Enterprise Institute
1150 Seventeenth St., NW
Washington, DC 20036
Phone: 202-862-5906
Media Contact Information
Veronique Rodman
American Enterprise Institute
1150 Seventeenth Street, N.W.
Washington, DC 20036
Phone: 202-862-4870
Speaker biographies


Jeffrey J. Anderson is the Graf Goltz Professor and director of the BMW Center for German and European Studies in the Edmund A. Walsh School of Foreign Service at Georgetown University. He is the recipient of the 2000 DAAD Prize for Distinguished Scholarship in German Studies. His publications include German Unification and the Union of Europe (Cambridge University Press, 1999) and The Territorial Imperative (Cambridge University Press, 1992); an edited volume entitled Regional Integration and Democracy (Rowman and Littlefield, 1999); and, most recently, a coedited volume (with G. John Ikenberry and Thomas Risse) entitled The End of the West? (Cornell University Press, 2008). His current research examines the Europeanization of the polity and political economy regimes of the member states in the European Union.

Luc D. Everaert is assistant director in the European Department of the International Monetary Fund (IMF), in charge of the European Union Policies and Regional Studies Division. Mr. Everaert oversees the IMF’s policy dialogue with the European Commission and the European Central Bank and the production of the biannual Regional Economic Outlook for Europe. He joined the IMF in 1992 and worked on European transition economies during the 1990s, including the establishment of Bulgaria’s currency board. Subsequently, he took on responsibilities for several advanced European economies and the euro area. His writings on the euro area have focused on competitiveness, external imbalances, and the impact and coordination of structural reforms.

Desmond Lachman joined AEI as a resident fellow after serving as a managing director and chief emerging market economic strategist at Salomon Smith Barney. He previously served as deputy director in the International Monetary Fund’s (IMF) Policy and Review Department and was active in staff formulation of IMF policies toward emerging markets. Mr. Lachman has written on topics such as economic policy, fund arrangements, monetary reform, import restrictions, and exchange rates. At AEI, he studies major emerging market economies and the role of multilateral lending institutions.

Stuart P. M. Mackintosh is the executive director of the Group of Thirty, an international think tank composed of senior figures from ministries of finance, central banks, leading financial firms, and academia that focuses on issues surrounding the structure of international financial supervision, financial reform, and restoring stability to the financial markets after the crisis. Previously, Mr. Mackintosh was a Washington-based economist and country risk manager for Mitsubishi International Corporation. Prior to that, Mr. Mackintosh was chief of staff and principal speechwriter for leading politicians in the European parliament. Mr. Mackintosh sits on the board of the National Association for Business Economics and is chairman of the association’s international roundtable.

David Marsh is the chairman of the London and Oxford Group and a strategic adviser and banker, combining expertise in marketing and communications with skills in cross-border transactions. He previously worked for ten years with the German consultancy company Droege and the Hawkpoint and Flemings financial groups, after a journalistic career at the Financial Times and Reuters. Mr. Marsh advises on international transactions, corporate development, and communications management in fields ranging from transport, technology, and real estate to media and financial services. He has developed a specialty in crafting innovative solutions for British-German businesses. A founding member of the German-British Forum (1995), he was made CBE and awarded the German Order of Merit for services to Anglo-German relations. He is a member of the advisory boards of the Centre for European Reform and the Institute for Corporate Cultural Affairs. His latest book, The Euro: The Politics of the New Global Currency (Yale University Press, 2009), is being published in German and Japanese.

AEI Participants

 

Desmond
Lachman
  • Desmond Lachman joined AEI after serving as a managing director and chief emerging market economic strategist at Salomon Smith Barney. He previously served as deputy director in the International Monetary Fund's (IMF) Policy Development and Review Department and was active in staff formulation of IMF policies. Mr. Lachman has written extensively on the global economic crisis, the U.S. housing market bust, the U.S. dollar, and the strains in the euro area. At AEI, Mr. Lachman is focused on the global macroeconomy, global currency issues, and the multilateral lending agencies.
  • Phone: 202-862-5844
    Email: dlachman@aei.org
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