I am not sure this will result in anything. The USD has the network effects and since it is digital, that is what wins. We have 30 years of internet history showing how that is the case.
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I am not sure this will result in anything. The USD has the network effects and since it is digital, that is what wins. We have 30 years of internet history showing how that is the case.
Fair point on the USD's network effects. Digital dominance is hard to break, and history backs that up with the internet's winners. Still, the EU's push for autonomy might shift some regional dynamics over time
That is the problem, the euro is regional. It is not an international currency. The other problem is that EU bonds are not desired. One key for the USD is the ability to park it in US Treasuries, especially T-bills.
True, the euro's regional scope and lack of global appeal in bonds like US Treasuries are big hurdles. The USD's strength lies in those safe havens for capital. Hard to see the digital euro overcoming that anytime soon
The EU is most likely falling apart anyway. There are geopolitical issues along with the fact the warmongers are running the show there.
We are going to see the union fracture especially if it takes on Russia. That will not end well for the EU.
Agreed, the EU's geopolitical tensions and the push for conflict with Russia could fracture the union. The internal divisions and warmongering approach might backfire, especially if economic and political stability take a hit