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  • 标题:The international role of the euro: evidence from bonds issued by non-euro area residents
  • 本地全文:下载
  • 作者:André Geis ; Arnaud Mehl ; Stefan Wredenborg
  • 期刊名称:Euro Area Balance of Payments and International Investment Position Statistics
  • 印刷版ISSN:1830-3420
  • 电子版ISSN:1830-3439
  • 出版年度:2004
  • 出版社:European Central Bank
  • 摘要:The euro, the single currency of the euro area, also plays a significant role in global markets and countries outside the euro area. This use of the euro by non-euro area residents is usually referred to as its international role. Part of this international role was inherited from the legacy currencies, i.e. the 12 currencies that were replaced by the euro, the most important of which was the Deutsche Mark. However, through the creation of a large single economic entity and through an increasing integration of national financial markets in the euro area, Stage Three of Economic and Monetary Union (hereinafter referred to as “Monetary Union”) gave new impetus to the international role of the euro.
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