If Europe carbon-copied the same regulatory framework as the US, do you think the rest of the world would start pouring trillions of euros into the financial sector, like with the USD? A global currency reserve hegemony empire is a very different thing from a treaty-based coalition of random countries. Look at Canada right next door is doing, and their GDP/capita based on the CAD. The only serious competition is another currency hegemon, China. This is not a coincidence. The same was true historically with the British and even Dutch empires.