EU must improve capital markets to boost euro as global reserve – ECB

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Benoît Cœuré

The European Union needs to strengthen its capital markets if it wants to see the euro become a global reserve currency, senior ECB officials said today.

The ECB could support the use of that process by helping to improve the eurozone’s financial infrastructure, said Benoît Cœuré, a member of the European Central Bank’s executive board.

His words were echoed by ECB president Mario Draghi, writing in the central bank’s annual report on the euro’s international use.

“Like the commission, the

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