In remarks at the Eurogroup press conference, the European Commission outlined a renewed push to strengthen the international role of the euro, presenting ministers with a comprehensive set of possible actions following a call from EU leaders. The discussion framed a larger global role for the euro as supporting the EU’s de-risking strategy and contributing to economic and financial stability while improving competitiveness through lower borrowing costs and reduced exchange-rate exposure for EU firms. The proposed approach centres on strengthening economic fundamentals, including advancing the EU competitiveness agenda and deepening the Single Market, implementing the Savings and Investments Union, finalising the digital euro proposal, diversifying the EU’s trade network and enhancing defensive capabilities. Additional actions discussed include increasing the autonomy of EU retail payment systems by building around the digital euro’s infrastructure and acceptance network, enhancing the issuance of euro-denominated digital assets, leveraging shifts in trade and foreign direct investment patterns, and reducing fragmentation in the EU’s regional financial safety net. The inclusive Eurogroup also discussed global macroeconomic imbalances, noting they reached 4% of global GDP in 2024, with work under way in the G7, G20 and International Monetary Fund, and the Commission called for swift implementation of the euro area recommendation for 2026. Work on the euro’s international role will continue in the Eurogroup, with the Commission indicating it will provide further inputs, alongside efforts to build a common EU position for engagement in international fora on global imbalances.
European Commission 2026-02-16
European Commission presents possible actions to strengthen the international role of the euro to the Eurogroup
The European Commission outlined a strategy to enhance the international role of the euro, aiming to support the EU's de-risking strategy and economic stability. Key actions include advancing EU competitiveness, deepening the Single Market, and finalizing the digital euro proposal. The Eurogroup also discussed global macroeconomic imbalances, with the Commission urging swift implementation of the euro area recommendation for 2026.