September 17, 2019 / 5:30 PM / a month ago

ECB's Villeroy urges more international role for the euro

FILE PHOTO: Governor of the Bank of France Francois Villeroy de Galhau in Paris, France, July 16, 2019. REUTERS/Philippe Wojazer

LONDON (Reuters) - Euro zone businesses would benefit if efforts were made to encourage the international use of the shared currency, ECB policymaker Francois Villeroy de Galhau said on Tuesday.

Villeroy recommended making payment transfer systems in euros more efficient and eventually creating a safe euro financial asset that could help stabilise markets.

“A larger use of the euro would help to protect our businesses against foreign exchange risks or legal disputes abroad,” Villeroy, who is also head of France’s central bank, said in a speech at the London School of Economics.

Reporting by Marc Jones; writing by Leigh Thomas ; Editing by Matthias Blamont

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