• 15/04/2024 07:40

EU leaders called for strengthening the euro

Лідери ЄС закликали зміцнювати євро

On the occasion of the 25th anniversary of the euro, EU leaders called for strengthening the European currency and working on new common challenges in economic policy.

As Ukrinform reports, this was stated in a joint statement on the ECB website.

The article, jointly written by the head of the European Commission Ursula von der Leyen, the head of the European Central Bank (ECB) Christine Lagarde, the head of the European Council Charles Michel, the head of the European Parliament Roberta Metsola and the head of the Eurogroup Pascal Donohoe, notes that “Europe’s business has always been with which countries have not been able to cope on your own.” This is, in particular, the growth of geopolitical tensions, not least due to Russia’s war against Ukraine, which requires bold collective decisions, the climate crisis, and competitiveness from energy and industrial policies in other parts of the world.

EU leaders note that during all this time, Europe has faced enormous challenges, including questions about the future of the euro. “In response to the global financial and sovereign debt crisis, we created safeguards such as the Banking Supervision and Resolution Framework or the European Stability Mechanism. Today, support for the single currency among eurozone citizens is close to a record level,” the article summarizes.

The authors of the article believe that solutions “must be based on everything that can be achieved in Europe through cooperation,” in particular, on building a common capital market covering the entire continent, using European instruments and measures to increase competitiveness and security.

EU leaders note that conditions need to be created for the introduction of a digital euro, which can complement cash.

25 years ago, on January 1, 1999, the euro came into force as the single currency of the 11 EU member states. It is currently used by 350 million people in 20 countries.

As Ukrinform reported, the European Commission proposes to introduce an electronic euro, while at the same time maintaining the circulation of cash coins and banknotes.

www.ukrinform.ua

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