ECB head urges for greater dominance of euro
(MENAFN) Christine Lagarde, The European Central Bank Leader on Monday urges a stronger international dominance of the euro, cautioning that the worldwide supremacy of the US dollar is confronting growing doubt.
Lagarde voiced her worry while talking at a conference at Hertie School in Berlin, about the danger offered to Europe from the disintegration of the international system. In addition, she states "the changing landscape could open the door for the euro to play a greater international role”
Lagarde laid out the advantages of the euro's improved international dominance, as an example, reduced loan costs for governments and companies throughout the euro region, better inner demand, and more economical toughness, as "it would allow Europe to better control its own destiny."
Despite that the euro nowadays equals around 20% of international external exchange holds, thus makes it the 2nd worldwide heavily-used currency, while the dollar currency comes 1st, Lagarde warned that it "will not gain influence by default."
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