No, the currencies that are held in it are U.S. dollars, euros, Japanese yen, and sterling. The euro-denominated securities would include countries such as Germany, France, and the Netherlands, but not all European members.
We have an internal credit rating assessment group. The statement of investment policy stipulates that securities must be of a minimum investment grade. It's roughly equivalent to single A-. We have an internal credit rating group that examines the rating of the sovereigns, assigns a rating to them, and investment is restricted to those entities that meet the minimum credit standards.