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
- Central banks face loss of independence – Central Banking survey
- Germany issues first ever zero coupon 30-year bond
- Summers and Stansbury warn of ‘black hole’ as central bankers debate solutions
- Overcoming deflation: Japan’s experience and challenges ahead
- Mark Carney on joined-up policy-making, forward guidance and Brexit