You correctly observed that the share of the euro in global official foreign exchange reserves increased during the first few years following its introduction, but has remained relatively unchanged in recent years. Specifically, the share of the euro rose from 18% in 1999 to 25% in 2003 and has been relatively stable since then, reaching 25.4% at the end of June 2006.
Thirdly: we face the challenge of ensuring that both lenders and borrowers are sufficiently sensitised on the merits of a robust credit information sharing mechanism and are able to use it to their advantage. This calls for well thought out awareness campaigns and capacity building programs.