The euro’s urgent need

the euro needs to become a serious reserve currency, and europe has to actually act on it. the single currency has been around for over two decades but still plays a minor role in global central bank reserves compared to the dollar. the argument is that europe's own inaction — fragmented bond markets, no unified fiscal backstop, limited safe asset supply — has kept the euro from competing. the opportunity is there: countries looking to diversify away from dollar dependence, but europe hasn't built the infrastructure to absorb that demand. the piece frames it as an urgent choice, not a slow drift.