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 euro is the second most important global currency after the US dollar. However, its international role has not … increased since its inception in 1999. The private sector prefers using the US dollar rather than the euro because the financial … the attractiveness of the euro outside the euro area requires, among others, a proactive role for the European Central …

The inquiry into the global significance of the euro, which is the second most important currency in the international …’s strategic autonomy. The main obstacles impeding the further internationalisation of the euro include the lack of a sovereign … behind it and the heterogeneity and struc­tural problems of the euro area member states. The international status of the euro …