The heads of state or government discussed the international role of the euro with the President of the European Central Bank (ECB), Christine Lagarde, and the President of the Eurogroup, Paschal Donohoe.
EU leaders agreed on a statement where they expressed their support for strengthening the position of the euro on the global stage in order to enhance the EU’s strategic autonomy while preserving an open economy, contributing to the stability of the global financial system, and supporting European businesses and households.
EU leaders stressed the need for a robust, inclusive and sustainable recovery. They highlighted the key role that the Recovery and Resilience Facility will play in supporting reforms and investments to finance the green and digital transitions and increasing the EU’s growth potential.
They also emphasised the importance of a sound financial architecture and well-functioning financial markets.
Deepening the Economic and Monetary Union, completing the Banking Union and making progress towards a true Capital Markets Union remain essential. – Statement by the Members of the Euro Summit, meeting in an inclusive format – 25 March 2021
Leaders called for a more innovative digital finance sector and more efficient payment systems, and for exploratory work on the possible launch of a digital euro to be taken forward.
They also asked for swift work to continue to further stimulate the growth of the EU’s green financial market and foster Europe’s leadership in the green transition.
At its next meeting in June 2021, the Euro Summit will discuss the economic challenges for the euro area in the aftermath of the COVID-19 crisis and review progress on the Banking Union and Capital Markets Union.