In light of the upcoming European Council and Euro Summit in December, the Commission has presented actions to strengthen the role of the euro in a changing world. A Commission Communication “Towards a stronger international role of the euro” issued on 5 December outlines the benefits of such a strengthened international role for both the EU and the international financial system, while proposing initiatives to boost the role of the single currency. In his State of the Union Address in September 2018, President Juncker highlighted the strategic importance of the euro and the need to ensure that the single currency can play its full role on the international scene. As part of this effort, the Commission has adopted a Recommendation on the international role of the euro in the field of energy. Other initiatives to boost the role of the euro include completing the Economic and Monetary Union, Banking Union and Capital Markets Union; additional measures to foster a deep European financial sector; and initiatives linked to the international financial sector such as increasing the share of euro denominated debt issued by European entities. The Commission will also launch a series of targeted consultations on the possible broader use of euro-denominated transactions in the energy, raw materials, agri-food commodities and transport-manufacturing sectors.