Papademos on the global importance of the euro

In the speech 'The global importance of the euro' given on 17 November Lucas Papademos of the ECB said the share of the euro in global official foreign exchange reserves increased during the first few years following its introduction, but has remained relatively unchanged in recent years.

"Specifically, the share of the euro rose from 18% in 1999 to 25% in 2003 and has been relatively stable since then, reaching 25.4% at the end of June 2006.

"The fact that many economic agents - be they private

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