The papers included in The Euro in the International Arena were originally presented as discussion papers for a conference of the "Euro 50 Group" which was held in Washington one month before the introduction of the euro to discuss with US officials and academics the future global role of the euro. The group comprises some 50 European personalities concerned by the consequences of the euro, and was created as a forum for the exchange of ideas and proposals on public issues related to the euro.

• Will the euro herald the emergence of a multi-polar monetary order?
• How will eurozone authorities be represented at the top table of international finance?
• What long-term changes will the new currency mean for the international financial system?

The focus is on the future role of the euro around the world, considering that its international status depends heavily on its recognition by the international business, academic and financial community. The papers presented include analyses of the current state of the euro on the international stage, Alan Greenspan's own views on euro, as well as investigations of the consequences of the advent of the euro on international monetary relations.

Papers include:

• The euro as an international currency
  — Alan Greenspan, chairman of the Federal Reserve Board
  
  
• The raison d'être of the euro
  — Dr Alexander Lamfalussy, former president of the European Monetary Institute
  
  
• Sound money and deep markets - Europe after the Euro
  — A. Borges, Goldman Sachs & F.Giavazzi, Bocconi, Cepr and Nber
  
  
• Heads the dollar wins, tails the euro loses – the evolution of the dollar's safe-haven status
  — Avinash Persaud & Natalia Alvarez-Grijalba, State Street
  
  
• Reflections on the international role of the euro
  — Michael Mussa, senior fellow at the Institute for International Economics
  
  
• The euro in international financial markets: where do we stand?
  — Gabriele Galati and Kostas Tsatsaronis
  
  
• The euro: an opportunity for Europe and for the international monetary system
  — J. de Larosière, former managing director, IMF

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