Euro's 'global moment' risks slipping away amid political division

Contributing sentiments towards policy:

61% : After EU finance ministers managed last week to agree a roadmap for its launch, the earliest timeline for its approval is mid-2026.
60% : With the free trade era giving way to protectionism and growing economic tensions under Trump, European leaders acknowledge that bolstering the euro's global status would help shield their export-driven economies.
52% : When EU leaders met in June, they agreed on the need for "advancing decisively" on efforts to raise the euro's profile as a reserve and transaction currency.
51% : "The EU doesn't have a deep enough capital market," Alfred Kammer, head of the International Monetary Fund's European department, told Reuters.
50% : A capital markets union would align national rules on bankruptcies, public offerings and tax treatment of capital gains, debt and equity, making it easier for investors to put money into assets in the currency zone.
48% : By the time EU finance ministers met in Warsaw in April to discuss a proposal to borrow jointly to fund arms procurement, the writing was on the wall.
47% : Smaller nations with big financial sectors opposed centralizing supervisory powers in EU bodies.
43% : Take the idea of creating a European version of the U.S. Securities and Exchange Commission(SEC) with a mandate to monitor risks across the EU - something Lagarde suggested could be achieved by extending the powers of the European Securities and Markets Authority (ESMA), an EU body based in Paris.
41% : But years of patchy progress on the project, recently rebranded as the Savings and Investments Union, underline how wary EU capitals and many bankers are of any move that would shift decision making to EU agencies.
39% : As Trump said in July: "Dollar is king and we're going to keep it that way.
38% : "Fundamentally, the EU struggles to concentrate on many crises at the same time," Enrico Letta, the Italian ex-prime minister who last year presented his own report on reforms needed for the region's single market, told Reuters.
31% : Four months on - and a year since Draghi's report - Lagarde's calls to bolster the foundations of the single currency are being drowned out by national divisions and other priorities such as the Ukraine war, dealing with Trump, and coping with home-grown political turmoil.

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