Key facts
- The euro's increased global role has been circumstantial, according to ECB board member Piero Cipollone.
- Europe must act deliberately to expand the euro's market share.
- The euro's role needs strengthening in a more contested global monetary system.
European Central Bank board member Piero Cipollone stated that the euro's increased global role has been circumstantial. He emphasized that in a more contested global monetary system, Europe needs to proactively strengthen the euro's role by acting deliberately to expand its market share.