Negative
23Serious
Neutral
Optimistic
Positive
- Total News Sources
- 3
- Left
- 2
- Center
- 1
- Right
- 0
- Unrated
- 0
- Last Updated
- 6 days ago
- Bias Distribution
- 67% Left


ECB Official Warns Euro Not Ready to Challenge Dollar Dominance
Gabriel Makhlouf, a member of the European Central Bank's Governing Council and Governor of the Central Bank of Ireland, stated that the euro is not yet ready to replace the US dollar as the world's dominant currency due to Europe's incomplete economic and fiscal integration. He emphasized that the eurozone lacks key elements such as a unified fiscal authority and a common safe asset comparable to US Treasuries, which limits the euro's appeal as a global reserve currency. Makhlouf cautioned against interpreting recent euro appreciation as a sign of a fundamental shift in global financial leadership, attributing it instead to concerns about the rule of law in the US. He called on EU leaders to use the current global uncertainty as an opportunity to strengthen the EU’s sovereignty by reducing internal barriers and expanding joint financing for shared objectives. Makhlouf’s remarks align with broader ECB calls to complete the EU’s banking and capital markets union and develop fiscal tools that match the scale of those in the US. Overall, he viewed dollar dominance as likely to decline over the long term but stressed that Europe’s economic system is still not sufficiently formed to challenge the dollar at present.



- Total News Sources
- 3
- Left
- 2
- Center
- 1
- Right
- 0
- Unrated
- 0
- Last Updated
- 6 days ago
- Bias Distribution
- 67% Left
Negative
23Serious
Neutral
Optimistic
Positive
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