The US dollar is the world’s most commonly held reserve currency, accounting for almost 60% of global foreign exchange reserves. In second place, trailing far behind the greenback, is the euro, which makes up around 20% of international FX reserves. Elevating the euro to become the 'go to' reserve currency across the globe could bring a plethora of benefits to Europe, including lowering borrowing costs for their governments, insulating them from exchange rate volatility and from the US's economic sanctions. Other governments will also benefit from the move, as they too may become less hostage to variable US policy. There are impediments to this and it won't happen overnight, but governments across the globe could reasonably start trending in this direction.