This note is a synthesis of the various studies existing on the development of the use of the euro by the customers … of a regular survey of the Commission among European banks on the share of the euro in the payments and bank accounts. …

more stable in the euro area than in other large economies. The paper concludes that there are three main explanations for … this fact. First, in some countries outside the euro area the sources of instabilities in money demand were country …-specific. Second, financial innovation appears to have had a weaker impact on money demand in the euro area than in other economies. A …