Moreover, capital flows now take many more forms than in the past: In the nineteenth century, international portfolio investments were concentrated in the finance of infrastructure projects (such as the American railroads) and in the purchase of government debt. Today, international investors hold an array of debt instruments, equities, and derivatives, including claims on a broad range of sectors.
with the introduction of our new series of euro banknotes, called the Europa series. Promoting further integration of retail payments in Europe is seen as economically and socially advantageous.