Photo: Kai Pfaffenbach / Reuters
The European Commission plans to make the Euro more attractive to international payments. A plan for strengthening of the currency published on 5 December.
As stated in the document, the decision to use currency must be taken by the market participants, and no plans to restrict their freedom of choice. However, the increasing role of the Euro will help to increase the stability of the international financial system will make the world economy less vulnerable to shocks.
“The wider global use of the Euro will reduce the costs and risks for European businesses, and reduce interest rates paid by households”, — stated in the message.
To make this happen, it is recommended to increase the use of the Euro in strategic sectors. To them is attributed: fuel (oil and gas), minerals, agricultural products and transport. In all these areas it is planned to hold consultations with key players on the transition to calculating in Euro.
In September, the European Commission President Jean-Claude Juncker, in an address to the European Parliament urged to take additional steps to raise the value of the Euro on the world financial stage. According to him, the Euro should become the new face of sovereign Europe.
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