Juncker Calls EU to Raise the Global Currency Challenge the Dollar

A senior EU official said that European Commission President Jean-Claude Juncker will call on the EU to raise the euro’s global currency status and launch to the US dollar when he states his annual plan in the European Parliament on Wednesday. challenge.

One of the things he is worried about is that most of the energy imported by the EU is denominated in US dollars, even if only a small part of it comes from the United States. The official said that Juncker believes that with the “political will”, it is possible to increase the euro-denominated ratio.

According to reuters official pointed out that although Norway’s energy exports to the EU are mostly priced in euros, other countries use the US dollar, the most important suppliers of which are the Gulf countries and Russia.

The official said before Juncker’s State of the Union address that since the US government under Trump seems to be separating from international cooperation, the EU may find it a good time to expand the influence of the euro.

 

138 Comments