Strengthening global role of euro requires decisive action — ECB head

President of the European Central Bank (ECB) Christine Lagarde has called on policymakers to seize the moment and strengthen the global role of the euro, as US President Donald Trump’s trade policies undermine confidence in the dollar.

Lagarde emphasized that Europe must enhance its geopolitical reliability, economic resilience, as well as its legal and institutional integrity. In doing so, she reiterated her previous statements.

According to Bloomberg, investors have been actively selling off the US dollar since the beginning of this year due to President Trump’s unpredictable policies, especially in the area of trade. In addition, their interest in Europe has increased amid rising government spending in the region’s countries, particularly Germany.

However, as a recent ECB report showed, the international use of the euro in 2024 remained at the same level.