In recent months we have faced a period of heightened uncertainty. Yet, despite these challenges, the euro area economy has held up well.

This resilience is no coincidence. It reflects, in no small part, the strength of two achievements we sometimes take for granted: our Single Market and our single currency, the euro.

As a foundation for stability and a powerful symbol of European unity, both at home and abroad, the euro is one of Europe’s greatest assets.

But in today’s geoeconomic world, the likelihood of larger and more diverse economic shocks is expected to remain a constant feature of our environment. This prompts an important question: in this new global landscape, what role should the euro play on the world stage?

I will focus specifically on…