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ECB's Lagarde says euro could be viable alternative to dollar
But she talks as if she has never heard of gold.
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From Al Jazeera, Doha, Qatar
Monday, May 26, 2025
The euro could become a viable alternative to the U.S. dollar as the global standard currency for international trade, according to European Central Bank President Christine Lagarde.
In a speech in Berlin, Germany, Lagarde said today that the erratic economic policy of the United States has spooked global investors into limiting their exposure to the dollar in recent months. Many have opted to invest in gold, without seeing a viable alternative.
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"The ongoing changes create the opening for a 'global euro moment,'" she said.
Lagarde said investors seek "geopolitical assurance in another form: They invest in the assets of regions that are reliable security partners and can honor alliances with hard power." ...
Reforming the domestic economy may be more pressing, however, she said. The euro area capital market is still fragmented, inefficient and lacks a truly liquid, widely available safe asset that investors could flock to. ...
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