The study shall:
– Identify the lacking elements in the architecture for the completion of Economic and Monetary Union that could enhance or boost the international role of the euro.
– Map and assess the main risks and opportunities for the euro at the global stage stemming from the COVID-19 crisis, as well as the shifts/changes in economic, geopolitical and technological environment.
– Present the emerging trends and possible shifts in the global currency system and assess the likelihood of significant changes occurring in the international monetary system, including opening the space for other global currencies to emerge or potentially leading to a more dynamic state where multiple currencies share international status.
– Assess how can the euro, in the sense of its global strength, benefit from the ongoing changes in the global environment and how can the market-driven shifts be supported by targeted policies. Identify which sectoral policies could be used to facilitate the market-driven process of changing the global role of the euro.
– Propose a roadmap towards making the euro more relevant and competitive at the international stage.