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Findings from the ECB point to a significant change in Europe's role in financial markets over the last two decades as seismic shifts in GDP and financial flows have reshaped the world economy

Highlighting policy issues around Global r*, Rebalancing: domestic reforms and fiscal policy, Monetary policy reaction function, International role of the euro and the Global monetary system, Philip R. Lane Member of the Executive Board of the European Central Bank pointed to the need for a new approach moving forward.

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