EU must improve capital markets to boost euro as global reserve – ECB

ECB cannot “unequivocally” say euro becoming global reserve would help monetary policy, says Cœuré

Benoît Cœuré: “We could make it easier, faster and cheaper for international investors to use euro-denominated assets”

The European Union needs to strengthen its capital markets if it wants to see the euro become a global reserve currency, senior European Central Bank officials say.

The ECB could support the use of that process by helping to improve the eurozone’s financial infrastructure, said Benoît Cœuré, a member of its executive board.

His words were echoed by the central bank’s president, Mario Draghi, writing in its annual report on the euro’s international use.

“Like the commission, the Eurosystem

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