Starting in the third quarter of 2026, the European Central Bank will introduce a permanent mechanism for providing liquidity in euros to central banks outside the European Union. This decision aims to bolster the international standing of the single currency.

"We must avoid a situation where that stress triggers fire sales of euro-denominated securities in global funding markets," ECB President Christine Lagarde stated. She emphasized that having a "lender of last resort" would provide partner central banks with confidence in liquidity availability during critical moments.

This move fits into the ECB’s consistent strategy to enhance the international role of the euro. In 2025, the currency’s share in global transactions exceeded 25%, fueled by a decline in the dollar's dominance. Meanwhile, China is ramping up efforts to internationalize the yuan. President Xi Jinping has announced the goal of making it a global reserve currency.