Euro will only gain bigger role with deliberate policy action, says ECB's Cipollone

FRANKFURT - The rise in the global role of the euro currency has been circumstantial up to now and the bloc needs to act deliberately to carve out a greater market share, European Central Bank board member Piero Cipollone said on Tuesday.

"In a more contested global monetary system, Europe needs to act deliberately to strengthen the role of its currency," Cipollone said in an ECB blog post. "In a changing global environment, the euro should serve a clearer purpose for Europe, and Europe should be willing to act to make this happen."

(Reporting by Balazs KoranyiEditing by Bernadette Baum)

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This story was originally published June 2, 2026 at 3:13 AM.