L’UE deve cogliere “un’opportunità unica” per soppiantare il dominio del dollaro USA, afferma il presidente della Banca Centrale Europea
https://www.euractiv.com/news/eu-must-seize-unique-opportunity-to-supplant-us-dollar-dominance-says-ecb-president/
di goldstarflag
25 commenti
No kidding
The US dollar already weakened a lot, like 10-13% down since trump took office. Lagarde argues the EU could move to replace the US dollar as world currency — by pushing through Draghi’s reforms:
– Rebuild Europe’s hard power
– Speed up ever-closer Union
– Complete the Single Market
– New trade deals
People have been talking about this for decades, but Germany wont let it happen since:
> for this to be achieved, “Europe must do its homework and strengthen its foundations” by […] and issuing a “safe and liquid pool of EU public debt,” Lagarde said.
More talking 🙃
The interesting point to me is not whether this will, or even can happen, but it’s that Trump’s administration wrecked things so much that it made this discussion happen and made it happen *publicly*
More waffle the German taxpayer will have to pay for no doubt.
Unlucky my Germanbros.
FMI
Do it!
How does Europe square this with keeping the US in NATO? Is she talking about within Europe or globally? The Federal Reserve maintains swap lines with the ECB. Why should that continue another day? Why do Europeans constantly say what they’re going to do in a way that allows their opponents ample opportunity to block them?
I can’t read the article. A popup prevents me from declining the cookies.
The EU is missing one crucial component to do this: military power.
The whole point of being a safe haven is whether a country/state can protect and defend itself. I think this very critical fact sometimes gets lost on people who think about this subject of dollar dominance lol.
Look what is going on in France. total nonsense
I don’t think that it will ever happen because other countries won’t make themselves dependent on any foreign currency like they did with the USA especially with how the USA conducted itself.
They will diversify their currencies which will make things much more complicated but preferable to what the USA has become.
Europe won’t be able to do what the USA did or anyone for that regard.
The USA has military power. Until the EU has any, nonsense.
Ok, buy Bitcoin then?
People here seem to think it has to be from 0 to 100 inone go.
Making all comercial transactions in Euros would be a solid start and you don’t need the biggest army to do that, for example.
The weakening of the dollar has been a blessing for all developing nations whose debt is in USD. Nevermind that it’s still stronger than it was pre-COVID. This makes the dollar more attractive than it was a year ago. What a nonsense article
You need to have a giant trade deficit for your currency to become the world’s currency.
Otherwise how do you get all that money spread everywhere around the world?
Europe is definitely capable but it would mean a drastic change in decades old economic policies.
It seems Trump was right. The EU was created just to screw the US. When he said it everyone was on this sub was incredulous about how he talked about allies.
Yet here we are. EU openly talking about supplanting the US…
I can imagine the parrots on this sub talking about how the US tries to harm the EU and how they are unreliable allies if the headline were reversed.
All of the gulf states that make up the
Petro dollar wants none of this. They much rather prefer American carefree attitude and military might.
Yes tho seizing Russian funds work against that objective. The idea here being that if you can just take my money at any point when you disagree with me, what guarantees do I have that you wont do this over domestic policy? Or my foreign relations policy? How do I know that you will only do this to countries who declare war?
Im not necessarily against taking russian funds, im just saying that especially in this context it will raise questions and problems
All I see is too much talking and not enough action…
Oh yeah, by using that sweet EU 0.2% growth dominance…
if currency dominance results to high deficits as economic theory says (i.e. supply the world with euro via imports) then how the EU hard core (the North) will accept it?
I
They have been talking about this forever and it has happened yet.