Global Financial Shifts: The Impact of Dollar Sanctions and Frozen Russian Assets
An interview with Brad Setser, Whitney Shepardson Senior Fellow (Council on Foreign Relations) led at Ifri on September 24, 2024.
Dollar-based financial sanctions have been increasing, particularly since the beginning of the century. Is this phenomenon likely to significantly alter the international role of the dollar?
There is a lot of controversy about the in which way frozen assets from Russia’s central bank should be treated, regarding both the assets themselves and the associated revenues. What consequences do you foresee for the international financial system?
C.Africa's Leap Into Bitcoin Leaves Its People Bemused
In the Central African Republic (CAR), nine out of 10 people do not have internet, and only one in seven has electricity -- that is, when there are no power cuts.
Yet the CAR has just followed El Salvador in adopting bitcoin as legal tender, a currency that requires access to the net to be bought, sold or used.
"The Yuan isn’t ready to replace the Dollar"
China’s ambition is to become a great financial power. But the necessary reform of its financial system and its will to act progressively could mean that it will be a long time before its exchange rate system is liberalized. Can the Yuan realistically become an international currency?
Devaluation of the Yuan: Claude Meyer answers Yves Bourdillon
Is the sudden devaluation of the Yuan a sign of some form of panic from Beijing following the slowed growth of the Chinese economy?
Does this decision create deflationary risks for the global economy?
What prospects for the Yuan’s international status?
Why Chinese Fintechs Have Failed to Reshuffle International Finance
New Chinese financial technologies, including unparalleled electronic payment systems, have so far failed to threaten U.S. financial dominance.
The Eurozone’s Vulnerabilities and Risks
The war in Ukraine has brought to light the European Union’s vulnerabilities.
Germany and the Economic and Monetary Union. Between the Search for Deeper European Integration and the Assertion of National Interests
Germany joined the creation of Economic and Monetary Union only with great hesitation and has tried to dictate the spirit and rules of operation of the Union.
From Meseberg to Nowhere? A Franco-German Impetus for the Eurozone
This study analyses the joint efforts by France and Germany to bring about a comprehensive reform of the European currency union. These efforts culminated in the joint Meseberg Declaration adopted in June 2018. The article contextualises these efforts with respect to the reforms realised so far and the different reform options at hand. Besides questions of economic viability and institutional deficits, the article tackles issues of political feasibility.
China and Global Economic Order: A discreet yet undeniable contestation
Having long remained a passive presence within multilateral economic organisations, China recently changed its stance when the United States was faced with a major financial crisis.
The Sovereign Debt Crisis and the Future of the Euro
The specter of sovereign defaults is back. The roots of a sovereign debt crisis are deep and concern all the industrialized countries. In 2010, those fears coagulated on Greece because Greece was the worst offender. Disgusted by the political economy of the Eurozone, investors concluded in the spring that the Eurozone and its currency had lost its attractiveness. But it would be completely premature to conclude that the Eurozone is condemned. What happened in the spring is breathtaking and very much in line with the European tradition to use every crisis as an opportunity: the paper offers a dissenting, unfashionable and optimistic view of the future of the Euro.
Why Chinese Fintechs Have Failed to Reshuffle International Finance
New Chinese financial technologies, including unparalleled electronic payment systems, have so far failed to threaten U.S. financial dominance.
The Sovereign Debt Crisis and the Future of the Euro
The specter of sovereign defaults is back. The roots of a sovereign debt crisis are deep and concern all the industrialized countries. In 2010, those fears coagulated on Greece because Greece was the worst offender. Disgusted by the political economy of the Eurozone, investors concluded in the spring that the Eurozone and its currency had lost its attractiveness. But it would be completely premature to conclude that the Eurozone is condemned. What happened in the spring is breathtaking and very much in line with the European tradition to use every crisis as an opportunity: the paper offers a dissenting, unfashionable and optimistic view of the future of the Euro.
The Future of the European Monetary Fund: Any Prospects?
The European summit last week has resulted in a compromise short-term agreement for aid to Greece.
C.Africa's Leap Into Bitcoin Leaves Its People Bemused
In the Central African Republic (CAR), nine out of 10 people do not have internet, and only one in seven has electricity -- that is, when there are no power cuts.
Yet the CAR has just followed El Salvador in adopting bitcoin as legal tender, a currency that requires access to the net to be bought, sold or used.
Global Financial Shifts: The Impact of Dollar Sanctions and Frozen Russian Assets
An interview with Brad Setser, Whitney Shepardson Senior Fellow (Council on Foreign Relations) led at Ifri on September 24, 2024.
Dollar-based financial sanctions have been increasing, particularly since the beginning of the century. Is this phenomenon likely to significantly alter the international role of the dollar?
There is a lot of controversy about the in which way frozen assets from Russia’s central bank should be treated, regarding both the assets themselves and the associated revenues. What consequences do you foresee for the international financial system?
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