The Role of Euro in the World
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Royer picture © European Community |
The single currency and the Economic and Monetary Union strengthen the role of Europe in international fora and organisations like the International Monetary Fund, World Bank, and Organisation for Economic Co-operation and Development.
As a global currency, the euro is taking on an important role as an international investment and reserve currency.
The euro has already become a major currency for borrowing: the issues of international securities denominated in euro now rival dollar issues.
The use of the euro in international trade is also expanding, reflecting the weight of Europe in the world economy.
The single currency makes Europe a strong partner to trade with and facilitates access to a genuine single market for foreign companies that will benefit from lower costs of doing business in Europe.
