The euro is the currency of 19 EU countries, over 340 million EU citizens and the second most important currency in the world. Boosting its global role will allow the European Union to better protect its citizens and businesses, uphold its values and promote its interests in shaping global affairs according to rule-based multilateralism.
Strengthening the international role of the euro will improve the resilience of the international financial system, providing market operators across the globe with additional choice and making the international economy less vulnerable to shocks linked to the strong reliance of many sectors on a single currency.
The European Union is taking steps to further boost the global relevance of the euro in order to reap all its benefits. With the new long-term budget and NextGenerationEU, we have the tools to support the recovery and transform our economies – in the process making the euro even more attractive for global investors.
Documents
- Commission's communication: The European economic and financial system: fostering openness, strength and resilience
- Communication of December 2018 ‘Towards a stronger international role of the euro'
- Recommendation on the international role of the euro in energy