US EditionECB’s Lagarde says euro could be viable alternative to US dollar
- On May 26, 2025, ECB President Christine Lagarde spoke in Berlin about the euro's potential as a global reserve currency alternative to the US dollar.
- Lagarde attributed this to the fracturing global economic order caused by rising trade tensions and challenges to US dollar dominance under President Trump’s tariffs.
- She outlined that Europe needs stronger legal foundations, a deeper capital market, and enhanced security capabilities to boost the euro's international role.
- Lagarde emphasized that the dollar continues to represent 58% of international reserves compared to the euro's 20%, and noted that this status is something that must be actively maintained rather than expected to continue automatically.
- If Europe succeeds in reforms and joint financing, the euro could lower borrowing costs, increase investor confidence, and allow more control over its economic destiny.
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The Euro Could Replace the Dollar as the World's Reserve Currency
A global reserve currency is one that is extensively held by foreign Central Banks. Since the 1944 Bretton Woods agreement this position has been occupied by the US dollar and it still holds true – according to IMF data from late 2024, the dollar represented 54% of global official reserves, while the euro came in a distant second at 19%. That's not set in stone. The post The Euro Could Replace the Dollar as the World’s Reserve Currency appeared …
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Total News Sources89
Leaning Left9Leaning Right10Center11Last UpdatedBias Distribution37% Center
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- 37% of the sources are Center
37% Center
L 30%
C 37%
R 33%
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