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Outlook 2021: Sovereign debt can boost euro’s reserve currency status, Remote working and Covid-19

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Outlook 2021: Sovereign debt can boost euro’s reserve currency status, Remote working and Covid-19

Wednesday 27 January 2021 – Vol.12 Ed.4.3

Outlook 2021: Sovereign debt can boost euro

By Frank Scheidig in Frankfurt

The dollar’s position as the world’s dominant currency is being challenged once again. The euro began its life as a reserve currency in 1999 claiming about 18% of global reserves before peaking at 28% during the 2008 financial crisis. It surrendered its gains from the dollar to other currencies, including the Australian and Canadian dollars and the renminbi. Now, two new EU programmes are building the necessary foundation for it to challenge again. Euro area countries will be the big winners if the euro expands its position.

Read the full commentary on the website.

Podcast: Remote working and Covid-19

Susan Lund, partner at McKinsey & Company and leader at the McKinsey Global Institute, and Carl Benedikt Frey, Oxford Martin Citi fellow at the University of Oxford and author of The Technology Trap, join Ellie Groves, deputy head of programming and Europe manager at OMFIF, to discuss the impact of Covid-19 in accelerating the shift to remote working, the barriers encountered by governments and businesses, as well as potential solutions for an easier transition.

Listen to the recording, or search ‘OMFIF’ on your smartphone’s podcast app.

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