As part of its study program "Global competitiveness and positioning of Morocco in the global system" and its permanent mission of strategic watch, the Royal Institute of Strategic Studies (IRES), held on January 26th, 2012 a seminar under the theme "scenarios of the euro zone crisis: what impact on Morocco? ". This seminar, to which took part a panel of Moroccan and European experts, looked at the potential risks arising from the Euro Zone crisis, the channels through which the crisis may affect the Moroccan economy and the adequate responses in terms of public policies that Morocco should deploy in order to mitigate the impact of the crisis on the country’s macroeconomic stability. The debate held during this seminar emphasized on the importance for Morocco to maintain the pace of reform and to strengthen its resilience to external shocks through the development of structural levers of its global competitiveness. Optimizing its regional positioning and grasping the opportunities arising from an adequate linkage to fast growing emerging economies should stand as the key foundation of Morocco’s international openness strategy . Other relevant aspects related to the examined topic were discussed in depth. These include, among others, further strengthening of the quality of supervision of the Moroccan financial sector, the development of internal sources of growth and the implementation of an integrated migration policy so as to enable Morocco to mobilize efficiently the potential of its population living abroad.