Beyond creating a solid domestic foundation, the euro strengthens the EU’s global economic standing. It is the second most important currency in the world, after the US dollar. It is trusted by central banks, investors, and businesses worldwide, who hold it in their reserves, issue debt in euros, and use it for trade.
In 2024, around 20% of global foreign exchange reserves were in euros.
Because it is a stable and trusted currency, the euro is often used in global pricing: it accounts for almost 40% of global cross-border payments and is used for around half of the EU’s exports worldwide.
In short, the euro promotes economic stability at home and economic strength abroad, helping EU nations thrive together, protect themselves from economic shocks, and play a stronger role on the world stage.
