Lucas Papademos: The international role of the euro – trends, determinants and prospects Speech by Mr Lucas Papademos, Vice-President of the European Central Bank, at the Brussels Economic Forum 2008, at the panel on “The euro in a rapidly changing international environment”, organised by the European Commission, Brussels, 15 May 2008. * I.
Here, the SSM expects banks in the euro area to have sufficient local capacity to manage at least an evident portion of their euro-denominated business themselves and not to fully outsource it to other entities within the group.