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Can we determine the relative strength of reduction of a metal by looking just at the electrode potentials ?

Here is a particular thing that confuses me :

We know that the standard electrode potential of Lithium is

**-3.05V**

I know that this implies that the bulk of the following reaction is to the right . (ie Lithium is a very good reducing agent.

Li [itex]\longleftrightarrow[/itex] [itex]Li^{+}[/itex] + [itex]e^{-}[/itex]

So here is the confusion :

1. What is the electrode potential of this reaction ?

Li [itex]\rightarrow[/itex] [itex]Li^{+}[/itex] + [itex]e^{-}[/itex]

2.What is the electrode potential of this reaction ?

Li [itex]\leftarrow[/itex] [itex]Li^{+}[/itex] + [itex]e^{-}[/itex]

are these going to be exactly the same as

**-3.05V**or would we see a sign flip ?

Also, what exactly is a reduction potential and an oxidation potential ? (is there a difference between the two) ?