Can euro take aim at US dollar’s global position?
For decades, the US dollar has been the undisputed anchor of the global financial system. But what happens if that dominance starts to crack — even slightly? And could the euro step in?
From the weaponisation of finance to rising US deficits and a more fragmented global trade system, the foundations of dollar dominance are being quietly challenged. Europe sees an opportunity: a stronger international euro could reduce imported inflation, lower transaction costs, deepen capital markets and increase financial autonomy.
But the path is far from simple. Without a unified fiscal system, a true safe asset comparable to US Treasuries,...