5 THE EURO TODAY – 2ND MOST USED CURRENCY WORLDWIDE Snapshot of the international monetary system (%) 70 60 50 40 30 20 10 0 Foreign International International Global payments Foreign exchange USD Exchange Reserves debt loans (SWIFT) turnover EUR Notes: “Foreign reserves” refers to the assets held by central banks as reserves. “Global payments” is based on SWIFT data and shows with what currenc. [...] 15 …BUT POLICY PACKAGES STABILISED MARKETS (Ten‐year government bond yield spreads against Germany, in percentage points) Euro's Global Debt COVID‐19 Fiscal: ESM/EFSF €700bn of inception Financial Sovereign and the which €300 bn used 2011‐ Crisis Crisis War in 2018. Ukraine €60bn EUMonetary: ECB Draghi “whatever it takes” – 2012 and OMT+ESM Monetary: ECB asset purchases (PSPP) 2015 ‐. [...] 17 THE FAST RECOVERY TESTIFIES TO RESILIENCE Fast real GDP recovery compared to previous Resilience in the labour market crisis compared to previous crisis (pre‐crisis=100) Unemployment rate (%) Source: European Commission Source: European Commission 18 GREECE – FROM PANDEMIC DAMAGE TO OUTPERFORMANCE Real GDP growth of EA countries Fiscal balances of EA countries (in %) (in % of GDP) 15 5 10 0 5. [...] Note: The sample contains all euro area countries except Ireland. [...] Note: The sample contains all euro area countries except Ireland.
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