Chair: Benoît Cœuré, Member of the Executive Board, European Central Bank Global monetary order: Barry Eichengreen, Professor, University of California at Berkeley Discussant: Guillermo Calvo, Professor, Columbia University Real interest rates, imbalances and the curse of regional safe asset providers at the zero lower bound: Pierre-Olivier Gourinchas, Professor, University of California at Berkeley; Hélène Rey, Professor, London Business School Discussant: David Vines, Professor, Oxford University