US EditionECB's Schnabel Says Now Is Right Time to Boost Role of Euro
- On June 7, during the recent economic forum in Dubrovnik, ECB officials Christine Lagarde and Isabel Schnabel highlighted the opportunity to enhance the euro’s international standing amid escalating trade disputes involving the United States.
- Their calls follow escalating US tariffs on the EU and weakening US dollar confidence, which policymakers view as an opportunity to boost the euro's international standing.
- Schnabel noted increasing investor interest in Europe for diversification, emphasizing the need for a larger European bond market and joint debt issuance to enhance the euro's appeal.
- The head of Spain’s central bank noted that the US dollar’s position as the leading international reserve currency may have reached its peak, while both Christine Lagarde and Isabel Schnabel encouraged policymakers to capitalize on the current favorable conditions to enhance the euro’s global standing.
- These developments suggest a potential shift in reserve currencies if Europe maintains macroeconomic stability and strengthens institutional frameworks underpinning the euro's trustworthiness.
21 Articles
21 Articles
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