ECB’s Villeroy Urges Bold Steps to Bolster Euro’s Global Role

European Central Bank Governing Council Member Francois Villeroy de Galhau called for policymakers to strengthen the international role of the euro, including by increasing the issuance of safe assets.

The Bank of France Governor said Donald Trump’s protectionism and defiance of international cooperation is increasing global uncertainty and leading some to review the status of the dollar as a safe-haven currency. He also said the advent of stable-coins may change the global financial system.

“Dramatic changes in the new world order over the past three years call for a bold step forward to strengthen the international role of the euro,” ...