This means that we neither hinder nor actively promote the development of this role. For example, decisions taken by non-euro area authorities to use the euro as an anchor, reserve or intervention currency have to be fully seen as unilateral measures. They do not involve any commitment on the part of the Eurosystem. This rule knows only one exception: the Exchange Rate Mechanism II.
The BSP has prepared the groundwork by creating a stable macroeconomic environment and putting in place a sound regulatory framework consistent with the global reform agenda.