Unsound public finances are part of the reason the euro's use in global markets has declined, European Central Bank President Mario Draghi says. "In 2012 the euro-area sovereign debt crisis continued to weigh on the international use of the euro, which declined moderately in some market segments," Draghi wrote in a report. "The persistent fragmentation of the euro-area financial system is one of the main underlying causes of these developments, as it affects the depth and liquidity of euro-area capital markets."

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