Lagarde revives pitch for euro’s international role
Single currency can become ‘true source of strength’, ECB president says
Christine Lagarde has said she would like the eurozone to enjoy the same benefits from its currency as the US does from the dollar.
In a speech in Paris on October 7, the president of the European Central Bank said the euro was “somewhere in between” being a safe-haven currency and a “truly international one”.
Countries whose currencies are safe havens, such as Japan and Switzerland, enjoy capital inflows in times of stress, she said. However, these are not usually signs of “sustained investment”
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