Breaking! Europe officially starts the 'de-dollarization' process, potentially reshaping the global financial landscape.
Big news! A significant announcement has come from Brussels, as Martin Köhler, a member of the European Central Bank's monetary policy committee, strongly states that Europe has officially begun the de-dollarization process, with the global financial system facing a major reshuffle, instantly affecting the cryptocurrency and global markets.
Köhler clearly pointed out that the continuous devaluation of the dollar is the core signal of this shift. Europe must take proactive measures to strengthen its financial system, fully enhance the euro's global share, and break the imbalance caused by the dollar's dominance. The instability in settlements and the risk of asset depreciation brought about by dollar hegemony have provided Europe with a window of opportunity for a breakthrough.
Europe will focus on three areas: improving policy coordination within the Eurozone, unifying financial regulation, and integrating the internal market; increasing the euro's share in trade settlements and reserves; strengthening cross-border financial cooperation, expanding the use cases for the euro, and simultaneously promoting the digital euro layout to reduce reliance on the dollar and US payment systems.
Although the long-term hegemony of the dollar is difficult to shake quickly, challenges such as economic imbalances and difficulties in coordination within Europe still exist. However, Europe's proactive layout signifies that de-dollarization has entered a substantive advancement stage.
Global currency diversification has become a major trend, and this move by Europe directly impacts the existing financial order. Can the euro challenge the dollar's position? What new opportunities will de-dollarization bring to the cryptocurrency market? What do you think about this global financial upheaval?
