Why do I receive an error after installing a new Microsoft Office version and using Excel Link with it?

I upgraded Microsoft Office and tried to use Excel Link as I always did. However, now I receive the following error message:
Reference to indicated file cannot be added

 Accepted Answer

The default security settings for Microsoft Office do not allow you to run any macros. Therefore, you have to change this setting to be able to work with Excel Link.
You can do this by opening Excel and choosing "medium" instead of "high" from the "Tools -> Macro -> Security" menu.

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