From slightly less than one-quarter at the end of 1998, its share rose to 27 per cent. What can we see from these figures? Although habits in the international use of currencies change only gradually, the euro has already won a respectable market share. Its market share roughly equals the economic weight of the euro area.
The monetary analysis focuses on a longer-term horizon, analysing the long-run link between money and prices. With these two analyses, the ECB covers the entire chronological spectrum. The monetary analysis mainly serves as a means of cross-checking, from a medium to long-term perspective, the short to medium-term indications from the economic analysis.