EURO developments: External representation

EURO developments:

External representation. The Commission has proposed arrangements for the future external representation of the euro zone. The emergence of this major new world currency creates the opportunity for the EU to play a more active part in international economic and monetary affairs. To be fully effective the Commission feels it important that the euro zone speaks with a single voice. The Commission proposes that the EU should be represented by a delegation involving the Council, the Commission and the European Central Bank, given their respective Treaty responsibilities. The proposal covers international meetings in formal bodies like the IMF and the OECD as well as less formal gatherings such as the G7 Finance or the G10.
Source: Press Release (European Commission), IP/98/958 (4.11.98)