The latest episode of Real Economy on Euronews looks at how the euro can challenge the dollar’s dominance as an international currency, and how switching to euros could be good for European business. Europeans identify the euro as one of the main symbols of the EU, but for many European businesses, the dollar remains the main currency of choice. In 2016, more than half of all non-EU imports were invoiced in US dollars while just a third of the goods brought into the EU were priced in euros. Moreover, more than 80% of Europe’s energy imports are priced and paid for in US dollars. In his 2018 State of the Union Address, European Commission President Jean-Claude Juncker called on the EU to promote the euro as a global currency to rival the US dollar. The larger role for the euro would reduce foreign exchange risk for European firms and make it easier for them to obtain trade credit and other financing. The international role of the euro is not just measured by trade, however. Businesses and foreign governments also use the currency for issuing debt and foreign central banks hold 20% of their reserves as euros. Valdis Dombrovskis, who is Vice-President for the Euro and Social Dialogue and also in charge of Financial Stability, Financial Services and Capital Markets Union, notes that “for the euro to be strong internationally, first and foremost it needs to be strong domestically. And that is indeed where we have an agenda on completing the Banking Union, completing the capital markets union."