Euro debt issuance hit by market turmoil

The euro lost ground as a currency of debt issuance in 2007, a result that the European Central Bank said may reflect the continued fallout from the credit crisis.

The euro's share of the international debt securities markets declined by around one percentage point, reaching 32.2% in December 2007, the European Central Bank said in its annual publication on the international role of the single currency. "The ongoing financial market turbulence may explain some of this decline," it added.

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