On the contrary, I am convinced that active and confident monetary cooperation with the United States is important for the stability and prosperity of the world today. I strongly disagree with those who say that the euro has been created to compete with the US dollar. Let’s be clear: the ECB is not campaigning for the international use of the euro.
This is done through a mechanism of cooperation and information-sharing with home and host supervisors. (Click here for further details on Memoranda of Understanding) Financial stability Enhancing financial stability became a core task in 2008, and in this area, the Bank took two important steps during the year.