At the same time, the euro is a new currency used in the second largest economic area of the world. This size factor, particularly as far as the euro area capital markets are concerned, may influence cross-border uses of the euro, both by residents and non-residents.
This, he said, can help us achieve: –  a better understanding of risks;  –  better pricing for investors;  –  better decisions by policymakers,  –  - and a smoother transition to a lower-carbon economy. These and other concerns are being shared by the Financial Stability Board, of which I am member and which Carney chairs.