European Central Bank President Christine Lagarde said the euro could become a viable alternative to the dollar, earning the 20-nation Eurozone enormous benefits if governments could only strengthen the bloc's financial and security architecture.
In a lecture in Berlin, Lagarde pointed out that "the ongoing changes create an opportunity for the global euro moment," considering that "the euro will not automatically gain influence, but will have to gain it." "To achieve this, Europe must have a broader and more liquid capital market, strengthen its legal foundations and support its commitment to open trade through security capabilities," she said.
Source (CNBC Arabia Website, Edited)
