Global currencies for tomorrow: A European perspective

This report examines possible scenarios for the evolution of the international monetary system (IMS) and their implications for the euro area, within a 15-year perspective. The report reviews the lessons from the history of the international monetary system (IMS), analyses the current IMS, assesses global trends that are going to affect the evolution of the IMS and presents and assesses three main scenarios for the IMS: a repair-and-improve scenario, a multipolar scenario and a multilateral scenario.