It can also be a way to make up for the absence of an international lender of last resort. IV. Concluding remarks  Let me conclude now with a few short remarks. The global economy stands at a crossroads at present. We have managed the global crisis relatively well but are yet to leave it behind.
I am sure that, if this is the case, the euro will find its proper place in the international monetary system. 5  BIS Review 44/1999