Article 138 [Common Positions]

The Euro is a currency used internationally. In 2017, 20% of both “international reserves of foreign central banks” and “debt issuance on international markets” were denominated in euro, “36% of the value of international transactions were invoiced or settled in Euros” and 60 countries outside the EU used it or linked their currency to it. However, the euro area has no voice and no clear external politic, thus affecting the international place of the Euro. The Five Presidents’ Report noted that: “This fragmented voice means the EU is punching below its political and economic weight as each euro area Member State speaks individually.”