The Governor of the Banque de France, François Villeroy de Galhau, told a conference in Paris on 4 June that increasing the global use of the euro would bolster “European financial sovereignty”.
Villeroy de Galhau, who is a frontrunner to succeed Mario Draghi as
the head of the European Central Bank in October. argued that since
the2008 financial crisis and the 2012 Eurozone crisis. the international
use of the euro as a major reserve currency has sharply declined.
European Commission President Jean-Claude Juncker has repeatedly vowed to turn the euro into a global reserve currency by replacing the dollar with the single currency when concluding deals tiedmto energy imports.
Read more at: Possible Draghi successor wants to increase the euro’s global use
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