ECB’s Stournaras Says Stable EU Policy Draws Investors to Euro

European Central Bank Governing Council member Yannis Stournaras said the US’s unpredictable behavior on tariffs is undermining the dollar’s status as the global reserve currency and is an opportunity for the euro, according to an interview in Handelsblatt.

“The US is turning global trade rules upside down by attempting to drastically reduce imports through tariffs,” he was cited as saying. In contrast, “the euro area’s heads state and government are committed to stability, free markets, democracy and the rule of law.”