European finance ministers weigh plans to bolster the global role of the euro currency

Euro zone finance ministers are meeting today, February 13, 2026, to discuss a suite of European Commission proposals designed to enhance the international role of the euro. The 21 ministers are evaluating structural measures to increase euro liquidity, deepen euro-denominated capital markets, and reduce the region's reliance on non-euro payment and reserve instruments. These efforts are aimed at strengthening the competitiveness and resilience of the European Union EU in the face of economic pressure from the United States US and China CN.

The proposals address existing barriers across the 27-nation EU, with the potential to mobilise approximately €10 trillion currently held in bank deposits into capital markets. This shift is part of a broader strategy to develop the Capital Markets Union and move away from payment and reserve dynamics that are currently heavily dollar-denominated. The plan includes the potential use of EU joint debt and joint EU bonds to create a more integrated financial landscape.