At the same time, the euro gives international investors additional options in a very liquid market. However, one thing is undeniable, and that is that the problems in the euro area at present have weakened the euro’s standing. We need to deal with these problems if the euro is to play a lasting role as a stabilising factor in the international currency system.
The reforms in the individual euro-area countries are an important step in this direction. Another step is the reforms in the institutional framework of monetary union, principally the work on a banking union. These measures put the euro area well on the way to rendering itself less vulnerable and remaining an attractive destination for international investors.