a special emphasis on the first year of the Euro. A contribution is made as to how to measure these roles, both for … identification of changes in the role of the Euro during 1999 compared to the aggregate of Euro predecessor currencies, net of intra-Euro … area assets/liabilities, before stage 3 of EMU. A number of key factors determining the currency distribution of …

The dollar, euro and yen still dominate the international financial system after the global recession. However, the …

key emerging market countries and a possible ‘hard landing’ for the US dollar. In that context, EMU has clearly increased …This Paper considers how the European Union, and more specifically the euro area, can contribute to international … internal stability in the euro area and has promoted a dynamic development of capital markets. But in some respects, monetary …

This Paper analyses the issues raised by EMU for the relationships between the Euro area and the international … financial system. The depreciation of the Euro exchange rate since the beginning of EMU has attracted most attention. The Paper … international role of the Euro, in areas such as: data needs; financial market developments; euroisation; EMU and the international …