ECB President Lagarde proposes making the euro an alternative to the US dollar with EU reforms.

ECB President Christine Lagarde proposes the euro as a potential alternative to the US dollar, suggesting this could be achieved if the European Union strengthens its financial and security systems. She argues Europe needs a deeper capital market, stronger legal foundations, and new trade agreements to make the euro more attractive for international trade. Despite this, the euro area market remains fragmented and inefficient, posing challenges to achieving this goal.