European Central Bank council member Rehn: European joint defense borrowing can enhance the global position of the euro.

Jin10 Data reported on July 2 that European Central Bank Governing Council member Rehn stated that Europe should focus on defense investment, as this will drop costs, accelerate processes, and create a new secure financial asset, thereby enhancing the international status of the euro. European Central Bank President Lagarde has stated that the unstable economic policies of the United States have created space for the euro to capture market share from the dollar on the global stage, but this requires the eurozone to restart a long-stalled process to complete its financial architecture. Joint defense borrowing can boost the prospects of Europe and the euro in two ways: it will create a large-scale, highly liquid secure asset, which is essential for the smooth operation of the financial sector; it will also enhance defense capabilities, which is necessary for any group issuing a major reserve currency.