This would, among BANCA D’ITALIA  The Governor’s Concluding Remarks Annual Report 2020  7  other things, provide the markets with a financial instrument with a high credit rating, making it easier to diversify the portfolios of European banks and to integrate capital markets, increasing the effectiveness of monetary policy and allowing the euro to assume in full its role as an international currency.
On average, world standards of living are rising, in large part because of the widening embrace of competitive free markets, especially by populous and growing China and India. Since the autumn of 2001, global gross domestic product per capita has grown more than 8 percent. And growth in developing Asia, where so many of the world’s poor reside, has been considerably faster.