Given Europe’s role as the world’s largest trader, it is not surprising that the share of the euro in the invoicing and settlement of the euro area’s trade with the rest of the world has increased significantly.
With these goals in mind, we recognize that negotiations have been intense and complex, and represent a valuable effort by all parties, including Management. In the spirit of compromise, we are prepared to join the emerging consensus and to ensure the World Bank Group remain fully legitimate vis-à-vis its diverse stakeholders. 3