Jürgen Stark : The role of the euro in the world - past developments and future perspectives

Both of these aspects are important for assessing the role of the euro in the world. Use of the euro by the international financial markets will be strengthened by further progress towards an integrated European financial market. But equally important are credible policies in the euro area, with a monetary policy geared towards price stability and fiscal and structural policies that promote sustained non-inflationary growth. In addition, the Eurosystem’s involvement in international institutions and fora contributes to a more stable international financial system.