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Lagarde pushes for euro global boost as the dollar slips

European Central Bank President Christine Lagarde told European policymakers on Tuesday that the euro needs to become a real global player now that Donald Trump has dragged the US dollar’s credibility into a ditch.

In an op-ed she wrote in the Financial Times, Christine said, “This moment of change is an opportunity for Europe: it is a ‘global euro’ moment.” She called for urgent action across the bloc to raise the euro’s role in the global financial system.

Christine said the US under Trump is turning away from the multilateral system that used to support global trade. She pointed to a rise in “protectionism, zero-sum thinking and bilateral power plays,” warning that this trend is already hitting Europe hard. With 30 million jobs tied to exports, the EU can’t afford to sit back while the global trading system gets restructured.

Europe must fix structural weaknesses to push euro forward

Christine said the euro is already the world’s second-most used currency, holding 20 percent of foreign exchange reserves. But the dollar, even under Trump, still controls 58 percent. She made it clear that if Europe wants to close that gap, it needs to stop relying on America’s decline and start fixing its own problems.