A Trump-Putin pact is emerging – and Europe is its target | Rafael Behr
www.theguardian.com
US betrayal of Ukraine is the rehearsal for a grander bargain with Moscow and an assault on continental solidarity, says Guardian columnist Rafael Behr

A prime time current affairs programme; a discussion about Donald Trump’s handling of the war in Ukraine. “He’s doing excellent things,” says a firebrand politician on the panel, before listing White House actions that have belittled Volodymyr Zelenskyy and weakened his battlefield position – military aid suspended; satellite communications obstructed; intelligence withheld. “Do we support this?” It is a rhetorical question.

“We support it all. Absolutely,” the celebrity host responds. “We are thrilled by everything Trump is doing.”

  • NeuronautML@lemmy.mlEnglish
    1·
    6 hours ago

    The problem with the Euro and why it’s so stable is that its supply is tightly controlled. If there is to be any Euro vs USD to be widely used in world markets for trade, more Euros have to be made available worldwide for countries to use. Such an increase of supply will have destabilizing effects in the economy and will be more challenging to keep stable, as now the ECB must consider the trade happening with Euros wordwide and not just eurozone trade in its currency supply control.

    Additionally, the EU would face less competitive exports, which is one issue currently faced by the US that Trump is trying to fix because he doesn’t understand economics, but can’t.

    Overall the EU would require a much more robust financial asset trading and regulation infrastructure to handle being a world reserve currency.

    It’s not just whoever currency is the top dog, a world reserve currency requires a finely adjusted economic policy that the ECB must be prepared for.