A successful monetary policy is a necessary condition, but not the only prerequisite for the international recognition and use of a currency. The reason is that the latter is a complex phenomenon. While there is no single international role for a currency, there are many uses for a currency in an international context.
Benoît Cœuré: Interview in El Financiero Interview with Mr Benoît Cœuré, Member of the Executive Board of the European Central Bank, in El Financiero, conducted by Ms Leticia Hernández Morón, and published on 4 November 2015. *  *  *  How can the financial system be kept stable amid divergent monetary policies?