ECB opens up euro lifeline in bid to boost global role

The European Central Bank is opening its euro lifeline to nearly all foreign countries to boost the single currency's global role amid geopolitical turmoil and fraying alliances.

The ECB said on Saturday that potentially "all central banks" outside the euro area would be allowed to borrow euros against collateral denominated in the euro zone's currency, News.Az reports, citing Reuters.

The move, first reported by Reuters, aims to make it easier for foreign central banks to secure funding in euros at times of financial stress. It is the latest part of Europe’s strategy to win trade and political friends and hold its own against the United States and China.

News.Az 

By Faig Mahmudov