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9/28, 9:42 AM (Source: TeleTrader)
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Euro needs good capital market to dominate more - Lagarde

European Central Bank President Christine Lagarde attended on Wednesday Frankfurt forum dedicated to US-European geoeconomic relations, during which she said that the Eurozone's currency could become more dominant than it is now and account for more than 20% of the international reserves, however, it is missing a good union capital market that the US has. Contrastingly, the reason the US has a good capital market is due to its treasury bonds, she added.

Lagarde also touched upon the other two conditions needed for the currency to be even more dominant, which would be a large, sizeable economy, on the one hand, and stability of its institutions and other organizations which gives predictability to those who trade and invest, on the other hand. Europe already fulfills these conditions, she stressed.

Baha Breaking News (BBN) / MM