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2d ago

Lagarde Outlines Vision for Elevating Euro's Global Role

In a Berlin speech, ECB President Christine Lagarde emphasized the need for financial integration, security capabilities, and joint financing to position the euro as a viable alternative to the dollar.

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Overview

  • Christine Lagarde highlighted the euro's potential to rival the dollar, contingent on strengthening the EU's financial and security frameworks.
  • Lagarde called for deeper capital markets, enhanced legal foundations, and increased joint financing to boost the euro's appeal to global investors.
  • The dollar's share of international reserves has dropped to 58%, its lowest in decades, while the euro remains at 20%.
  • Global investors are reducing exposure to dollar assets due to erratic U.S. policies, creating an opportunity for the euro to expand its role.
  • Lagarde urged Europe to make the euro the preferred currency for international trade invoicing and to back it with geopolitical and military strength.