European Central Bank President Christine Lagarde stated that recent U.S. policies under President Donald Trump have created an opportunity for the euro to strengthen its global role as an alternative to the U.S. dollar. She referred to this as a 'global euro moment' and noted that the eurozone, which comprises 20 countries, could benefit if it acts decisively. Lagarde highlighted that the U.S. dollar's share of global foreign exchange reserves has declined to 58%, the lowest in decades, while the euro accounts for 20%. The share of gold in global reserves has also risen to 20%. She pointed out that the euro's share in global trade invoicing is 40%, more than double its share as a reserve currency. Lagarde said that global investors are seeking alternatives to dollar assets, but the euro's international role has been limited by incomplete financial integration and a lack of joint financing of public goods within the EU. To elevate the euro's status, Lagarde called for the eurozone to deepen and integrate its financial and capital markets, reinforce its legal and institutional foundations, and strengthen its security and military capabilities. She emphasized that the euro will not gain influence by default and must 'earn' its place through reforms, including joint borrowing and greater political unity. The EU's debt-to-GDP ratio stands at 89%, compared to 124% in the U.S., but the supply of safe assets in Europe remains limited. Lagarde outlined the benefits of a stronger global role for the euro, such as lower borrowing costs, insulation from exchange rate fluctuations, and protection against international sanctions. She also linked the credibility of the euro to Europe's ability to act as a reliable security partner, suggesting that enhanced military strength and alliances are necessary to support the currency's internationalization. She mentioned the ECB's digital euro initiative and the need for new trade agreements and improved cross-border payments. Lagarde criticized President Trump's recent statements about the European Union, describing them as 'horrible' and 'provocative,' and responded to his threats of imposing a 50% tariff on European imports, with a deadline now set for July 9. She urged Europe to engage in dialogue and negotiations with the U.S. while pursuing deeper economic and security integration within the bloc. She also noted that the ECB had recently cut interest rates in response to the economic impact of ongoing trade tensions.