Yves Mersch: The international role of the euro Speech by Mr Yves Mersch, Governor of the Central Bank of Luxembourg, at a financial seminar, Hong Kong, 11 November 2004. *  *  *  Ladies and Gentlemen, Since its inception, the euro’s international role has grown in a gradual but steady way.
At the outset I would like to recall the Eurosystem’s policy position vis-à-vis the internationalisation of the euro. The Governing Council of the ECB sees the internationalisation of the euro as a market-driven process. Nevertheless, we analyse developments closely, as we are keen to know how the euro is used and by whom. Thus, I will first review the main developments in more detail.