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April 28, 2011

[SSJ: 6646] Mon. May 16, 2011: David Marsh: The Euro -The Politics of the New Global Currency

From: Eriko Kawaguchi
Date: 2011/04/28

* Feel free to circulate this invitation to friends or colleagues.

ICAS Book Talk
David Marsh: The Euro -The Politics of the New Global Currency

Date: Monday, May 16, 2011
Time: 7:00p.m. (Talk will start at 7:30p.m.)
Venue: Temple University, Japan Campus, Azabu Hall
212/213
2-8-12, Minami Azabu, Minato-ku, Tokyo (access:
www.tuj.ac.jp/maps)

Speaker: David Marsh
Moderator: Robert Dujarric
Admission: Free (Open to general public)
RSVP: icas@tuj.ac.jp
*If you RSVP you are automatically registered. If possible, we ask you to RSVP but we always welcome participants even you do not RSVP.

Outline

David Marsh argues that European economic and monetary union, the most ambitious project in the history of the European Union and the furthest-reaching world currency scheme since the Bretton Woods system was established, now faces a crucial turning point. The 17-nation monetary construction dominated by Germany and France will either proceed in the direction of a "transfer union" in which debtor states are permanently supported by creditor nations, or it will split up into two segments of richer and poorer countries. Both transitions would bring political and economic complexities of the most bitterly intractable kind.

Despite its problems caused by deep-seated internal imbalances and European politicians' supreme incompetence in managing economic challenges, the Euro will not simply wither and die. This reflects not simply the enormous political capital that has been invested in the project, but also the overriding interest of Asia led by China and Japan to maintain the Euro as an alternative to the otherwise-dangerous monopoly power of the dollar. Europe has almost certainly lost the battle to maintain the Euro as it was originally conceived: a strong, stable currency in the traditions of the old Deutsche Mark. Instead, the currency that has become the second most important global money after the dollar faces a further extended period of tribulation as European governments decide whether they will opt for more European solidarity or more monetary chaos. Probably the outcome will be a mixture of the two.

Speaker
David Marsh is one the foremost international commentators and analysts on global monetary affairs. He is co-chairman of monetary think-tank OMFIF (Official Monetary and Financial Institutions Forum) , Senior Advisor to London-based asset management company Soditic CBIP LLP, chairman of the advisory board of independent investment bank London & Oxford Capital Markets and chairman of management consultancy SCCO International. Previously he worked for City merchant bank Robert Fleming, corporate finance boutique Hawkpoint and German management consultancy Droege. He worked for the Financial Times between 1978 and 1995, including in France and Germany, becoming European editor. Marsh is deputy chairman of German-British Forum, advisory bord member of Centre for European Reform, board member of British Chamber of Commerce in Germany and honorary professor at the University of Birmingham.
Marsh has written four books: Germany - Rich, Bothered and Divided (1989); The Bundesbank - The Bank that Rules Europe (1992); Germany and Europe - The Crisis of Unity (1994); The Euro - The Politics of the New Global Currency (2009), being re-issued in June 2011 as The Euro - The Battle for the New Global Currency. The latest book on the Euro is being published in Japanese by Ittosha press on 18 May 2011.

________________________________________
Robert Dujarric
Director
Kyle Cleveland
Associate Director
Eriko Kawaguchi
Coordinator

Institute of Contemporary Asian Studies
Temple University, Japan Campus
http://www.tuj.ac.jp/icas/
ICAS Facebook: www.tuj.ac.jp/icas/facebook

Approved by ssjmod at 11:49 AM