France has lobbied fellow EU countries to pledge additional measures aimed at raising the euro’s profile as a global reserve currency, as part of Paris’ long-standing campaign for more joint borrowing.
A draft EU statement circulated ahead of a leaders’ summit later this month, seen by the Financial Times, asks the bloc’s institutions including the European Central Bank “to explore actions to reinforce the international role of the euro”.
The push was prompted by US President Donald Trump’s erratic trade and economic policy, which has weakened the dollar’s dominant role, opening up space for the Eurozone’s 25-year-old currency to become more attractive for international transactions.
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