The president of the European Central Bank Christine Lagarde and fellow European Union leaders recently hailed the euro for its role in giving the bloc “greater sovereignty in a turbulent world.” The EU leaders added, however, that more still needs to be done if the bloc and the currency are to emerge from the present-day challenges unscathed.
‘World’s Second-Most Important Currency’
According to Christine Lagarde, the president of the European Central Bank, the euro has given the European Union (EU) “greater sovereignty in a turbulent world” since its issuance twenty-five years ago. In a joint statement to mark the currency’s 25th anniversary, Lagarde claimed that the euro has made “life simpler” for European citizens and protected growth and jobs.
Launched on January 1, 1999, the EU currency project initially started with 11 countries participating, but this number has since grown to 20 countries. Despite the euro’s emergence as the “world’s second most impo
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