A broader shift in global economic power away from the US towards other regions is reflected in the EU's efforts to strengthen the Euro
The European Union is taking bold steps to strengthen the Euro as a strategic asset in the global economy, according to a European Parliamentthat the Euro is essential to its economic and political power, and is pursuing a range of initiatives to increase its global significance and promote it as an alternative to the US dollar.
However, the EU is optimistic about the Euro's future and is pursuing targeted policy initiatives to increase its share in global foreign exchange reserves.Diversifying foreign exchange reserves One key strategy outlined in the report is to increase the Euro's share of global foreign exchange reserves to at least 30 percent by 2025.the US dollar remains the dominant currency in global foreign exchange reserves, accounting for 59 percent of total allocated reserves.
"The euro is also the currency of the future, and in the coming years it will become a digital currency too,"A digital Euro would also ensure that the Euro remains competitive with other digital currencies like Bitcoin and China's digital yuan.
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