· François Villeroy de Galhau Wiki · Banque de France WikiThe euro as a complementary asset in a more multilateral system
Read full speech on bis.org ↗ContextSpeech in Paris at a conference on the euro's international role and capital markets union; the Banque de France keeps prices stable and supports a stronger euro.
Why it mattersVilleroy argues for a stronger euro in a more multipolar monetary system.
Problems raised
- Inflation is still too high in the euro area.
- Forces push for more diversification in the international monetary system.
- The dollar dominates global finance.
Solutions proposed
- Deliver the inflation target within two years.
- Strengthen the euro's international role.
- Complete capital markets and banking union.