No Longer Neutral: The ECB’s Geopoliticization of the International Role of the Euro
While the euro has, since its creation, been the world’s second most important currency, the ECB has long depoliticized the international role of the euro by proclaiming a neutral stance. However, as this article explains, since 2019, the ECB has embraced currency internationalization and framed the...
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| Language: | English |
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Cogitatio
2025-01-01
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| Series: | Politics and Governance |
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| Online Access: | https://www.cogitatiopress.com/politicsandgovernance/article/view/8877 |
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| author | Lukas Spielberger |
| author_facet | Lukas Spielberger |
| author_sort | Lukas Spielberger |
| collection | DOAJ |
| description | While the euro has, since its creation, been the world’s second most important currency, the ECB has long depoliticized the international role of the euro by proclaiming a neutral stance. However, as this article explains, since 2019, the ECB has embraced currency internationalization and framed the issue in geopolitical terms. This policy change reflects a response to a changed international political environment after 2018 and it has led the ECB to seek closer political coordination regarding external economic policy. As the international role of the euro has become a concern for the EU’s broader geoeconomic turn, it may, however, become difficult for the ECB to reconcile its political independence with its more geopolitical view of currency internationalization. |
| format | Article |
| id | doaj-art-91146f5dadad4134b4a59373402debbe |
| institution | Kabale University |
| issn | 2183-2463 |
| language | English |
| publishDate | 2025-01-01 |
| publisher | Cogitatio |
| record_format | Article |
| series | Politics and Governance |
| spelling | doaj-art-91146f5dadad4134b4a59373402debbe2025-01-30T10:39:25ZengCogitatioPolitics and Governance2183-24632025-01-0113010.17645/pag.88773838No Longer Neutral: The ECB’s Geopoliticization of the International Role of the EuroLukas Spielberger0Brussels School of Governance, Vrije Universiteit Brussel, BelgiumWhile the euro has, since its creation, been the world’s second most important currency, the ECB has long depoliticized the international role of the euro by proclaiming a neutral stance. However, as this article explains, since 2019, the ECB has embraced currency internationalization and framed the issue in geopolitical terms. This policy change reflects a response to a changed international political environment after 2018 and it has led the ECB to seek closer political coordination regarding external economic policy. As the international role of the euro has become a concern for the EU’s broader geoeconomic turn, it may, however, become difficult for the ECB to reconcile its political independence with its more geopolitical view of currency internationalization.https://www.cogitatiopress.com/politicsandgovernance/article/view/8877chinaeuropean central bankeuropean uniongeopoliticizationinternational role of the eurostrategic autonomy |
| spellingShingle | Lukas Spielberger No Longer Neutral: The ECB’s Geopoliticization of the International Role of the Euro Politics and Governance china european central bank european union geopoliticization international role of the euro strategic autonomy |
| title | No Longer Neutral: The ECB’s Geopoliticization of the International Role of the Euro |
| title_full | No Longer Neutral: The ECB’s Geopoliticization of the International Role of the Euro |
| title_fullStr | No Longer Neutral: The ECB’s Geopoliticization of the International Role of the Euro |
| title_full_unstemmed | No Longer Neutral: The ECB’s Geopoliticization of the International Role of the Euro |
| title_short | No Longer Neutral: The ECB’s Geopoliticization of the International Role of the Euro |
| title_sort | no longer neutral the ecb s geopoliticization of the international role of the euro |
| topic | china european central bank european union geopoliticization international role of the euro strategic autonomy |
| url | https://www.cogitatiopress.com/politicsandgovernance/article/view/8877 |
| work_keys_str_mv | AT lukasspielberger nolongerneutraltheecbsgeopoliticizationoftheinternationalroleoftheeuro |