European Central Bank President Lagarde calls for boosting the euro's global influence as confidence in the dollar weakens.

Gate News bot message, European Central Bank President Lagarde urges policymakers to seize the opportunity to enhance the global influence of the euro, as Trump’s policies are undermining confidence in the dollar.

“This transformative moment presents an opportunity for Europe: it is a moment for a ‘global euro,’” she wrote in a column published in the Financial Times on Tuesday. “To seize this opportunity and enhance the euro’s position in the international monetary system, we must take decisive action as a united Europe to better control our own destiny.”

Lagarde echoed previous comments, emphasizing that “Europe must strengthen its three main pillars: geopolitical credibility, economic resilience, and the integrity of law and institutions.”

European policymakers, including Lagarde, believe that this is an opportunity to challenge the decades-long dominance of the dollar and strengthen the position of the euro, which will allow the eurozone to enjoy more privileges that have so far only belonged to the dollar, such as lowering borrowing costs for governments and businesses and enhancing the eurozone’s economy’s ability to withstand exchange rate fluctuations.

Source: Bloomberg