This was due to the fact that a number of the currencies replaced by the euro had played an important international role in the past. It also holds true because the euro has become the currency of an economic area which roughly equals the United States in terms of economic size and external trade, and which has the world’s second largest capital market.
As Antonio Weiss will discuss today, the agencies involved in the Joint Staff Report on October 15 are assessing the adequacy of publicly available information, and of the data available to the official sector for its own monitoring of these markets. 1 A number of participants also expressed interest in continuing to try out a range of potential innovations to current market structures.