The Euro on the World Stage: the International Role of the EU’s Currency from a Geostrategic Perspective

Geopolitical developments are forcing the EU, and therefore the Netherlands, to consider ways of strengthening the international position of the euro. China, Russia, Brazil, Saudi Arabia, India and an increasing number of emerging economies are seeking an alternative to the current hegemony of the US dollar. The rules-based multilateral order is under pressure and the importance of power relations is increasing, including in the monetary domain. Insufficient consideration has been given to this strategic dimension in the Dutch debate. The AIV calls on the government to demonstrate greater urgency and commitment regarding this issue. In this advisory report the AIV makes a number of recommendations for strengthening the international role of the euro.