Rising geopolitical tensions meanwhile increased central bank purchases.
The euro, reading the Report, does not yet seem to have achieved the widespread standing of a safe haven asset used on a global scale.
In the Report, the share of the euro as the remaining reserve currency is reported to be stable, at around 20%, while the share of the US dollar as the global reserve currency declined from 70% in 2000 to 57% in 2025.
This means that margins for growth in the use of the euro in the world are there, but to expand the global standing and appeal of the single European currency, the Report emphasises that the EU will have to do more and faster, by achieving at least three strategic objectives: “complete the investment and savings union”, “increase the joint financing of public assets to create a safe and liquid pool of EU public debt” by creating a true market for liquid and deep European safe assets like the US Treasuries.
“Safeguarding investor confidence in the institutions and policies that support the euro, including through respect for the rule of law”. In an international context where democratic values are increasingly under attack.
