On Wednesday 5 July, the European Central Bank (ECB) published its annual review of the international role of the euro, presenting an overview of developments in the use of the European currency by non-residents of the Eurozone over the period 2016-2017.
The diminishing role of the euro on the financial markets was one of the ECB's main conclusions. The share of issuances in euro fell from 24.8% to 20.4% between 2015 and 2016.
“Although the euro stays unchallenged as the second most used...