European Central Bank President Christine Lagarde used a 17 June Financial Times commentary to argue that "this is Europe’s global euro moment," urging EU leaders to deepen the single market, complete the capital-markets union and strengthen regional trade. Lagarde said decisive action could raise the currency’s international profile as confidence in the US dollar falters under former President Donald Trump’s trade and tariff policies. One day later in Shanghai, People’s Bank of China Governor Pan Gongsheng announced the creation of an international operations centre for the digital yuan at the Lujiazui Forum. Pan said the move will expand cross-border use of e-CNY and advance a "multi-polar" monetary order where several major currencies coexist. Six foreign lenders, including Standard Bank and First Abu Dhabi Bank, agreed to adopt China’s CIPS settlement network, signalling broader support for the renminbi. The International Monetary Fund echoed Lagarde’s push, with Managing Director Kristalina Georgieva calling it an opportune time to boost the euro’s global role even as the Fund warned that the euro-area risks slipping into economic stagnation without deeper integration and higher investment. The parallel initiatives by Europe and China highlight accelerating efforts to reduce reliance on the dollar and reshape global finance through a stronger euro and the internationalisation of the digital yuan.