Eurozone finance ministers mull int'l role of euro
(MENAFN- Kuwait News Agency (KUNA)) BRUSSELS, July 8 (KUNA) -- Finance Ministers of the 18-member Eurozone Monday discussed the international role of the euro and ways to strengthen it.
"We looked into ongoing work to strengthen the international role of the euro. The (European) Commission has been building the evidence base for possible initiatives at the sectoral level," Eurogroup President Mario Centeno told a news conference at the end of the meeting in Brussels tonight.
"This was not our first discussion on the topic and it will not be the last - it is a priority and we will take it forward as was requested by (EU) Leaders in December," he noted.
On his part, Klaus Regling, Managing Director of the European Stability Mechanism (ESM), the EU's permanent bailout fund, told the joint press conference that they had a "good discussion" on the international role of the euro.
"Talking to investors I always get the same message. The euro has a potential to play a stronger role in the international monetary system. I think this is even more true given the doubts about the commitment of the US government to globalisation and multilateral approaches," he said.
"However, to have a stronger role for the euro in the international system it is important to continue in the path of deepening the European economic and monetary union," added Regling.
The ministers also welcomed the decision by the EU leaders last week to nominate the current president of the international Monetary Fund Christine Lagarde as candidate for the next European Central Bank President. (end)
nk.ibi
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