European Central Bank (ECB) Governing Council member Yannis Stournaras has highlighted the opportunity for the euro to challenge the US dollar's dominance as the global reserve currency amid the United States' unpredictable tariff policies. Despite this, the international use of the euro remained flat throughout 2024, underscoring the difficulty of displacing the dollar on the global stage. An ECB report revealed that while the dollar continued to lose market share last year, the primary beneficiaries were smaller rival currencies and gold, rather than the euro. Stournaras reiterated his proposal to strengthen the euro's position as a reserve currency by advancing banking union, capital market integration, and a common fiscal system within the eurozone. The ECB continues to aim for a more prominent role for the euro, but so far, other currencies have gained more from the dollar's decline.