Europe Should Step Up By Standing Down
Ten years on, with the euro a resounding success, euro-zone policymakers should seize the initiative in the world’s key economic clubs. They should start by giving up their seats in the G-7 and the IMF, instead acting collectively in these forums while creating space for other important countries.
LONDON – Ten years on, the euro is a resounding success. A financial-market heavyweight, it now outperforms the dollar, the yen, and, until recently, the mighty Chinese yuan, while euro-denominated bond trading rivals the US market in size.