As I said, the eurosystem is agnostic about the international role of the euro. Global usage of the euro is not policy goal. That said, the euro does have several strengths as an international currency. There is also work under way, aimed at improving the single market, that should, as a byproduct, make it an even stronger contender.
The US dollar is not likely to lose its dominating role any time soon. But partly because of the ongoing crisis, partly due to progress in financial integration and structural reform in the euro area, it looks likely that the no. 2 position of the euro could well be growing stronger in the coming years. 4  BIS Review 124/2008