MNI BRIEF: Enhancing Euro's Global Role On Summit Agenda

European Union leaders will discuss how to use the current geopolitical situation to reinforce the role of the euro as a reserve and transaction currency at their June 27 summit, a senior EU diplomat said.

Draft summit conclusions call on leaders to ask the European Central Bank, European Commission and EU states to take forward work on enhancing the appeal of the euro to international markets and investors. Pointing to a recent op-ed by ECB Christine Lagarde, the official said that the creation of a bigger and more liquid pool of euro-denominated safe assets was one aspect of the discussion, along with Capital Markets Union.