Euro Poised to Challenge Dollar’s Global Dominance: ECB’s Lagarde

Europe could seize the moment amid a global trade shake-up by deepening integration, boosting security, and unifying its financial system, she said.

European Central Bank President Christine Lagarde addresses a news conference in Frankfurt am Main, Germany, on April 17, 2025. Kirill Kudryavtsev/AFP/Getty Images

European Central Bank (ECB) President Christine Lagarde said the euro could emerge as a serious alternative to the U.S. dollar as the world’s reserve currency, provided the bloc deepens its financial and security architecture.

She said U.S. President Donald Trump’s trade policies are shaking the foundations of the dollar-based global economic order.