Search results for Christine Lagarde
Crypto
Gold share in central bank reserves overtakes U.S. Treasuries for first time
Gold has overtaken U.S. Treasuries in global central bank reserve assets for the first time, the European Central Bank said. As of end-2025, gold accounted for 27 percent of reserves, exceeding the 22 percent share of U.S. government and Treasury bonds. Gold’s share rose from 20 percent a year earlier, while U.S. Treasuries fell from 25 percent. The ECB cited geopolitics and sanctions risks as key drivers.
Crypto
ECB warns stablecoin spread could trigger bank runs, undermine monetary policy, urges faster digital euro
The European Central Bank warned that the spread of stablecoins could undermine financial stability and reinforce a U.S. dollar-centred international monetary order. It reiterated that central bank-issued or -backed digital currency infrastructure should take priority over private stablecoins. ECB board member Isabel Schnabel said stablecoins could weaken bank intermediation, trigger bank runs and impair monetary policy transmission, while raising concerns over monetary sovereignty. The ECB is pursuing a digital euro and a wholesale tokenised central bank currency.
Crypto
ECB president says central bank money infrastructure should come before euro stablecoins
European Central Bank President Christine Lagarde said Europe should build a tokenised payment infrastructure based on central bank money, rather than prioritising private stablecoins, to strengthen the euro’s international role. She said expanding euro-denominated stablecoins to counter dollar-pegged tokens was not Europe’s best option. Lagarde pointed to the Eurosystem’s Pontes project and Appia roadmap, while warning of potential financial stability risks from stablecoins.
