The international role of the Euro

Regling and Euro flag

The international role of the Euro

Thursday, 21 October 2021 - 5:00pm to 6:45pm
Investcorp Auditorium/Zoom webinar
Klaus Regling (European Stability Mechanism)
Charles Enoch (St Antony’s College, Oxford)
European Studies Seminar

Mr Regling will give his lecture virtually via Zoom.

Klaus Regling is the current and first Managing Director of the European Stability Mechanism. The Managing Director of the ESM is appointed by the Board of Governors for a renewable term of five years. He is also the CEO of the European Financial Stability Facility (EFSF), a position he has held since the creation of the EFSF in June 2010. Mr Regling has worked for over 40 years as an economist in senior positions in the public and the private sector in Europe, Asia, and the U.S., including a decade with the IMF in Washington and Jakarta and a decade with the German Ministry of Finance where he prepared Economic and Monetary Union in Europe. From 2001 to 2008, he was Director General for Economic and Financial Affairs of the European Commission. During 2008-09, he spent a year at the Lee Kuan Yew School of Public Policy in Singapore where he researched financial and monetary integration in Asia. Subsequently, he opened an economic and financial consultancy in Brussels. Previously, Mr Regling had gained experience in the private sector as Managing Director of the Moore Capital Strategy Group in London (1999-2001) and as an economist with the German Bankers’ Association. Mr Regling studied economics at the Universities of Hamburg and Regensburg.

Mr Regling will reflect on the unfinished agenda for reinforcing the euro. The euro has been a strong second international currency to the dollar since its inception and has regained much of the influence lost in the global financial crisis. A multipolar currency world, with the euro and renminbi serving as coequal alternatives to the US dollar, would contribute importantly to global financial stability. But first, to buttress the euro. Europe needs to address the fragmentation in its financial markets and capital markets to enhance liquidity and deepen markets. The euro area also needs more economic risk-sharing, via cross-border investment and a common fiscal capacity backed by a safe asset. While progress has been striking in some areas during the pandemic, much remains to be done to achieve banking union and capital markets union.     

If you would like to attend this event in person, please register with Eventbrite. Places are limited due to our social distancing policy.

If you would like to attend this event virtually, please register with Zoom.


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