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Next Generation EU boosts euro’s status as bitcoin threatens other currencies

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Next Generation EU boosts euro’s status as bitcoin threatens other currencies

Thursday 17 June 2021 – Vol.12 Ed.24.4

Commentary: Next Generation EU issuance will boost euro reserve status

By Clive Horwood in London

The Next Generation European Union fund exceeded all expectations with the debut bond deal for its €800bn programme, prompting issuers, investors and bankers alike to herald its potential impact on euro capital markets. A group of market participants, speaking on a panel during an AFME/OMFIF event, were enthusiastic about the deal’s reception and the implications for the euro’s role as a safe asset and a cornerstone of global capital markets.

Read the full commentary on the website.

Commentary: Accepting bitcoin as legal tender sign of monetary eccentricity

By Philip Middleton in London

Countries have, for centuries, used foreign money not only for international transactions but as a complement to or replacement for a locally issued currency. In much of the Caribbean, the dollar operates alongside local notes. But now El Salvador has announced that bitcoin will also become legal tender, alongside the dollar and ill-fated colon. Using stateless cryptocurrencies as a substitute for national specie is, at best, a sign of monetary eccentricity.

Read the full commentary on the website.

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