Of course they are not going to want a digital Euro. How many times do we have to say this? CBDCs do not benefit central banks, they benefit politicians
This is true. I think it's safe to say that nearly all of us here agree with that statement.
In the case of the Euro, ECB may be telling the truth. There's been rumors of the Euro self-destructing and national currencies returning to replace it. If this is happening with Fiat EUR, it looks as if it would be happening with Digital EUR (CBDC).
The bankers will make their move (because they always do), but not under conditions adverse to them.
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The EU is a failed experiment, they just dont want to admit it. The ECB never stopped easing since the 2007 crash along with going negative in 2013 or 2014. Yet nothing worked since the economy of the Eurozone is lagging both the US and China. Hell, even the Japanese are doing better than the EU.
Plus, the second largest economy in the EU just left. That does not bode well especially since Germany, a major exporter, has demographic problems along with the fact that their exports are declining. This is the largest economy in the EU.
Not much going well for that area.
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Everyhing you say about the EU is true and verifiable. The EU was at its best when it was "only" a free trade zone. When it began acting like a superstate is when the experiment failed.
Although not as influential as USD, EUR is still an influential currency; it will be a while before it fails. I'm giving EUR between 5 and 10 years.
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Always hard to tell how long something like that will last. There is no doubt the ECB will throw whatever it has to in order to defend the EURO.
The question is does the Eurozone have the economic growth to keep it propped up. For all the issues Japan had, the one thing they did, in the face of a declining population, is keep their economy the same. They didnt grow it the last 30 years but it didnt go backwards either.
Does the EU duplicate that or do they see their economy contracting?
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Despite the heavy influence the United States has on Japan, I see Japan as a nation led by people who have caution and foresight. That could be cultural, but caution and foresight are good things to have in leadership.
When it comes to the EU, I cannot say likewise. Given the difficulty in bringing its member states in agreement on many things, plus the crises concerning radical leftism, immigration, and COVID-19, it doesn't look good for the EU.
I'm pulling for Japan and expecting the EU to self-destruct for its own good.
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Well Abe threw the leadership idea out the window for me.
What Japan does have is they are very technologically advanced, something that is helping them combat their demographic woes. No nation outside the US can compete with Japan on this end of things.
The EU has that problem (in addition to the leadership) also. They are not the most advanced region technologically.
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Nobody's perfect. That was bound to happen sooner or later, it just turned out to be with him.
As for Europe, it is doomed-- EU or no EU.
Technology is a major factor for both Japan and the United States. The weakness for both nations is the supply chain, and Japan would suffer worse from supply chain woes than the United states. Resources and raw materials would still need to be imported, but the imports should be reduced with a greater native capacity to manufacture the components needed to manufacture goods and technolical advances.
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