公開シンポジウム「多極時代におけるユーロ：20 年目の挑戦」　序文

抄録

　More than 20 years have passed since the introduction of the euro in 1999. After a relatively calm first 10 years, the euro experienced a series of crises. And now, the euro is in the midst of a COVID-19 crisis.

　The objective of the open symposium ‘Euro in the Multipolar Era: Challenges after Twenty Years’, held on the afternoon of the second day of the 41st annual conference of European Union Studies Association-Japan （EUSA-Japan）, was to gain insight into the euro’s fluctuation between excessive expectations, optimism and extreme pessimism over the past 20 years.

　In the first half of the symposium, five panellists reported their observations on the current status and challenges of the euro from different perspectives: the international role of the euro, the challenge to the dollar, responses to the Renminbi and the Libra （Sadayoshi Takaya, Kansai University）; the political and economic conditions for the survival of the eurozone （Kaoru Hoshino, Ritsumeikan University）; the evolution of the policy framework of the ECB through crises （Daisuke Karakama, Mizuho Bank）; the impact of Brexit on the European financial system, the role of London as a global financial centre in Europe （Kenichiro Yoshida, then at the Mizuho Research Institute） and the China-Russia economic relationship and its impact on the euro （Yu Hasumi, Rikkyo University）.

　In the second half of the symposium, among the issues each panellist raised and discussed, with questions from the floor, were: the importance of capital market union, policy cooperation between the UK and the EU, establishment of the Next Generation EU （NGEU） and issuance of new EU bonds and the impact of currency digitisation.

　Although it is difficult to forecast the future with certainty, in the face of the extremely high degree of uncertainty that COVID-19 has caused, we were able to deepen our understanding of the euro through discussions at this symposium and clarify the points to be noted in the future outlook.