The Review of World Economics/Weltwirtschaftliches Archiv published a special issue to mark the 20th anniversary of the introduction of the euro. The anniversary on January 1, 2019 presents an opportunity to reflect on lessons learned from the first 20 years of the single currency in Europe and to consider its prospects for the future.
The contributors to the special issue are Jean-Claude Trichet, former President of the European Central Bank, who, as an active participant, had an up-close perspective on the early development of the euro; Claudia M. Buch, Vice-President of the Deutsche Bundesbank; Benjamin Weigert, Director General of Financial Stability at the Deutsche Bundesbank; Barry Eichengreen, Professor of Economics and Political Science at the University of California, Berkeley; and Charles Wyplosz, Professor of International Economics at the Graduate Institute in Geneva and Director of the International Center of Monetary and Banking Studies.
Recent years have demonstrated the strains that can arise when multiple countries undertake the bold venture of monetary union. The editors of the Review of World Economics invited prominent thinkers to offer their insights into what they see as the biggest surprise in the euro’s first 20 years and the biggest challenge for the next 20 years.
The authors are a mix of policy-makers and academics, thereby representing a range of perspectives. They also encompass different geographic perspectives, including French, German, and American backgrounds.
To read the articles, follow the links to the Review of World Economics:
Laura Alfaro, Paul R. Bergin, Introduction to: the euro at twenty
Jean-Claude Trichet, The Euro after 20 Years is a historic success
Barry Eichengreen, The euro after Meseberg
Claudia M. Buch, Benjamin Weigert, Macroprudential policy in a currency union
Charles Wyplosz, Limits to the independence of the ECB