Conference: The Best Alternative to a New Global Currency

On March 18th-19th a conference organized by the Initiative for Policy Dialogue at Columbia University, the School of Finance at Central University of Finance and Economics in Beijing, with support from the Ford Foundation and the Columbia Global Center East Asia, on the Reform the Global Monetary System took place in Beijing, China. Stephany Griffith-Jones, special adviser for FEPS, contributed actively to the debates. The outcome of this meeting was a declaration by Nobel Laureate J. Stiglitz, signed by top level economists from around the world, on the need to expand the current system of special drawing rights as a tool to address the global imbalances and the current instability of the global economy. This call has been published by the Financial Times on March 31st, 2011.

Read the opinion by Prof. Joseph Stiglitz (PDF)