Euro not ready to challenge dollar as world's financial anchor due to incomplete economic system.

The euro may not quickly replace the dollar as the world’s financial anchor due to Europe’s incomplete economic system, says ECB member Gabriel Makhlouf. Dollar dominance will decline long-term, but Europe lacks a unified fiscal capacity like US Treasuries. Makhlouf urges Europe to use global uncertainty to strengthen its security and autonomy.

Read more at Yahoo Finance: ECB’s Makhlouf Says Euro Not Ready to Challenge Dollar’s Role