The international role of the euro and the development of European safe assets
· François Villeroy de Galhau, Governor of the Banque de France (France)
Summary written by Dark Majestic in its own words · topics: public finances and debt, development and emerging economies, growth, investment and productivity
FV · François Villeroy de Galhau Wiki · Banque de France WikiThe international role of the euro and the development of European safe assetsContextSpeech of François Villeroy de Galhau, Governor of the Bank of France, at the European Stability Mechanism (ESM), Luxembourg, 2 October 2025.
Why it mattersThe Banque de France Governor on safe assets and equity finance as keys to the euro's international role.
Problems raised- European venture capital lags far behind the US.
- Europe lacks common safe assets.
- Equity financing is too weak.
Solutions proposed- Prioritise five levers of the capital markets roadmap.
- Focus on equity financing.
- Issue joint debt only for growth-raising European public goods.
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