Finance ministers of the 20-member Eurogroup exchanged views on the international role of the euro, based on the annual review published by the European Central Bank. According to an EU statement released after the meeting in Brussels late Thursday, the European Commission also presented its views and analysis on the subject. The euro remained the second-most-important currency globally in 2022, it noted.
“Good news that the euro’s global role has remained resilient despite the challenges of the economic situation. At the same time we know that, this role could even be stronger,” EU Economy Commissioner Paolo Gentiloni told a news conference after the meeting.
Ministers continued their discussions on the digital euro, further to the single currency legislative package published by the European Commission on 28 June.
“A digital euro is all about the natural evolution of our common currency. It’s not about ending cash in any way. It’s about offering a digital version of cash in a world that is increasingly digital. There’s obviously a long way to go before we see the digital euro in our virtual wallets” Paschal Donohoe, President of the Eurogroup, told reporters.
Further, the Eurogroup discussed the economic and budgetary situation in the euro area, noted the statement.
Source: Kuwait News Agency
