In early December 2018, the Commission adopted the Communication ‘Towards a stronger international role of the euro’. The Euro Summit encouraged action to be taken based on the communication.
The Communication outlined the need to continue deepening the Economic and Monetary Union, in particular by completing the Capital Markets Union and the Banking Union.
Additional measures were proposed in the domains of financial services and the international financial sector. Moreover, the Commission proposed actions and launched coordinated targeted consultations in key strategic sectors:
- raw materials
- agricultural and food commodities
- transport manufacturing
The consultations target stakeholders such as manufacturers, traders, suppliers and service providers. In the energy sector, the Commission issued a Recommendation on the greater use of the euro at the same time as the Communication.
The main objective is to explore with stakeholders how to increase the role of the euro in their respective areas.
In addition to the consultations, the Commission will also open discussions on the increased international role of the euro in different public fora. The Commission will report on progress by summer 2019.
See the Commission’s online survey on the role of the euro in non-energy non-agricultural raw materials (metals and minerals).
Deadline: 22 March 2019 at 12:00