I also think there is a need to strengthen the external representation of the euro, as evidenced by the developments in the wake of the global financial crisis. These are, of course, issues to be solved between the European capitals, but there is a sense of urgency to make progress. 3.
When posing the question “What is new in the international monetary system?”, we must dig deeper. During the past decade, the operating environment of central banks has changed in profound ways. The key lesson of the financial crisis is how vital financial resilience is for the real economy.