美元“病危”，拉加德呼吁：欧元应该取而代之！

Group 1 - ECB President Lagarde stated that if governments strengthen the financial and security framework of the Eurozone, the euro could become a viable alternative to the US dollar, benefiting the G20 significantly [1] - Global investors have been reducing exposure to dollar assets due to erratic US economic policies, with many opting for gold instead of direct alternatives [1] - The euro's global standing has stagnated for decades due to an incomplete EU financial system and a lack of interest in further integration among member states [1] Group 2 - Lagarde emphasized that any enhancement of the euro's status must be matched by stronger military capabilities to support partnerships, as investors seek geopolitical security [2] - The euro should become the preferred currency for international trade invoices, achievable through new trade agreements, enhanced cross-border payments, and liquidity agreements with the ECB [2] - Reforming the domestic economy is urgent, as the Eurozone capital markets remain fragmented and inefficient, lacking truly liquid and widely available safe assets for investors [2] Group 3 - Joint financing is necessary for public goods, which could lay the foundation for gradually increasing the supply of safe assets in Europe [2] - Joint issuance of bonds remains a taboo for key Eurozone members, particularly Germany, due to concerns about taxpayers potentially covering the fiscal irresponsibility of other countries [2] - Successful reforms could lead to significant benefits, including lower borrowing costs for domestic companies, protection from exchange rate fluctuations, and shielding from international sanctions [2]