These action points include the completion of Economic and Monetary Union, banking union and capital markets union. Moreover, and without prejudice to the ECB’s independence, we take note of the Commission’s support for our initiatives on market infrastructure and payments, which help to increase efficiency and financial market integration in the euro area.
Although it is not in our mandate to establish or promote the euro as a global currency, the ECB’s responsibility for promoting the smooth operation of payment systems indirectly supports the international standing of the euro.