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Reducing Europe’s Reliance on the US Dollar: Macron’s Warning Amidst Geopolitical Shifts

Reducing Europe’s Reliance on the US Dollar: Macron’s Warning Amidst Geopolitical Shifts

In a recent interview with Politico, French President Emmanuel Macron suggested that Europe should work towards reducing its reliance on the US dollar.

He believes that European leaders should loosen their ties to the US and focus on remaining neutral in the event of a potential conflict between China and the US over Taiwan. President Macron made these remarks subsequent to his recent trip to China, where he held a high-profile meeting with Chinese President Xi Jinping.

President Macron emphasizes the need for Europe to decrease its reliance on the US dollar’s “extraterritoriality” amidst escalating tensions between the US and China.

He warns that if a conflict were to arise, Europe would not have the time or resources to maintain its strategic autonomy and would become subservient to one of the superpowers.

READ MORE: Is the US Dollar’s Dominance in Danger? Billionaire Venture Capitalist Weighs In

For many years, the US dollar has dominated global trade and the international monetary system. However, recent efforts have focused on ending the world’s reliance on the dollar.

The BRICS countries – Brazil, Russia, India, China, and South Africa – reportedly plan to introduce an alternative currency that would bypass the US dollar. This new currency could be linked to precious metals or other hard assets.

Other countries, such as Saudi Arabia, Argentina, Iran, Indonesia, Turkey, and Egypt, have also expressed interest in joining the BRICS alliance.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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