The European Parliament's Economic and Monetary Affairs Committee on 23 June 2026 debated the global role of the euro, revealing a split over safe assets. Rapporteur Rasmus Andresen (Greens/EFA, Germany) called for European safe assets to reduce dollar dependence, while Michalis Hadjipantela (EPP) supported safe assets but opposed permanent debt mutualization, insisting on fiscal responsibility. Nikos Papandreou (S&D, Greece) backed conditional safe assets for EU public goods, citing the US bond model. Pierre Pimpie (PfE) argued for effective currency management, citing the Swiss franc. Ľudovít Ódor (Renew) highlighted infrastructure and the digital euro, while Jussi Saramo (The Left) stressed the need for alternatives to the dollar and private money. The main divergence is over safe assets: EPP and Renew push for conditionality and no mutualization of past debt, while Greens/EFA and S&D advocate deeper integration. The vote is scheduled for 15 July. On the Fundamental Review of the Trading Book (FRTB), the Commission presented a third delegated act postponing full implementation until 2027 due to US and UK delays, introducing temporary targeted amendments and a multiplier for affected banks. The European Banking Authority and the European Central Bank's Single Supervisory Mechanism supported the act, emphasizing regulatory certainty and risk sensitivity, but noted ongoing work on boundary rules and internal models. Affected stakeholders include EU banks, which face delayed compliance costs but gain alignment with global peers, and financial market participants, who benefit from reduced regulatory fragmentation.
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EU Matrix analysis