The use of the euro by private agents both as an investment and financing currency and as a payment and vehicle currency has been largely supported by ever more integrated, liquid and diversified euro financial markets. Moreover, the euro has benefited from cross-border trade, investment flows and the overall economic stability of the euro area.
The internationalisation of the euro is not an objective of ECB. However, it is evident that its monetary policy geared towards price stability plays an important role in inspiring investor confidence. 2. Comments on other activities of the Eurosystem  Let me now move on to other tasks performed by the Eurosystem during 1999.