Instead, I wish to review the set-up of the European Single Supervisory Mechanism and offer some ideas as to how it can be developed further. But for that purpose, I find it helpful to remind ourselves of the organisational principle of the SSM. It was not intended to be a single, hierarchical organisation, but rather a supervisory network.
Use of the euro in South Eastern Europe South Eastern Europe is a region where one can see the use of the euro as an international currency in all its dimensions. The OeNB has done much work to document this. The ECB also monitors regularly developments in the international role of the euro, including its use South Eastern Europe.