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European Union plan to replace the dollar as the international reference currency

Today, Tuesday, January 19 European Commission It will present its new strategy for the union’s economic growth: Success in the makingeuro the new The reference currency for the global financial economic system In the coming future.

An ambitious project that began during the presidency Jean-Claude Juncker And implemented by the executive branch Ursula von der Leyen. A perspective on this trend was already anticipated in the 2019 report, but according to some rumors, the new draft includes further measures aimed at strengthening the Common currency.

The plan will, in effect, ensure that the European Union defends its interests and values ​​internationally, and thus can counter London’s financial strength after Brixi You no longer have to put up with decisions United States of AmericaIncluding sanctions against Iran, as happened in recent years under the presidency Donald Trump.

Currentlyeuro Is the second The most used currency in the world. Therefore, Europe will deploy all of its weapons at its disposal to be able to divert global trade from Dollars Into the euro, shattering the hegemony in place from World War II until today.

The Euro: The European Union’s plan to replace the dollar as the international reference currency

a program commission You will determine how Euro-zone It can strengthen itself Economic and financial flexibility Thanks to the strengthening of the currency, first and foremost is the exploitation of the growing markets, first and foremost Green economy.

at Recovery fundIt is, in fact, expected to be of a special nature 750 billion euros Of the total funds, a third will have to be spent on environmental transformation projects.

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Consequently, the rules imposed by Brussels will allow for strong growth prospects for the sector, and thus affect the financial markets, which will see stocks in Green finance.

Thus the goal becomes the makingeuro The reference currency for products like i Green Bond, Which the European Union is already the world leader, owning nearly half of the total. The effects were already recorded, allowing a gain of 5.1% against the dollar in 2020.

So the Commission wants to avoid the risks of Brexit and US sanctions

Another ready-to-use tool relates to an entryDigital Euro, Which should be launched in mid-2021, to be able to position itself as the main currency of the system in this case as well.

Among the main reasons that led to the acceleration of these decisions, we find in terms of the resulting consequences BrixiWhich pushes the European Union bloc to strengthen the financial infrastructure of the European Union, as institutions are trying to persuade many companies to leave the United Kingdom.

On the other hand, the negative effects of the unilateral decisions of the United States and the president Trump cardSuch as the sanctions imposed by America on Iran, which also had repercussions on banks, companies and people belonging to the European Union and those involved in business with Tehran.

Harold Manning

"Infuriatingly humble social media ninja. Devoted travel junkie. Student. Avid internet lover."

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