Makhlouf said the euro cannot yet replace the U.S. dollar as the world’s dominant reserve currency Irish central bank chief and ECB governing council member Gabriel Makhlouf was speaking at a conference in France over the weekend. Makhlouf cited Europe’s unfinished economic and financial integration. said that while dollar dominance may decline over time, Europe still lacks a unified fiscal structure and a safe asset comparable to US Treasuries;said recent euro gains against the dollar are more reflective of investor concerns over U.S. governance than a fundamental shift in reserve currency dynamics;urged the EU to seize the current climate of global uncertainty to strengthen its internal market, improve collective financing, and enhance its strategic autonomy. This article was written by Eamonn Sheridan at www.forexlive.com.