Reported 1 day ago
Gabriel Makhlouf, a member of the European Central Bank, stated that the euro cannot quickly become a substitute for the dollar in the global financial system due to Europe's insufficient financial and economic integration. He emphasized that while dollar dominance may fade over time, Europe currently lacks unified fiscal mechanisms that parallel the US system. Makhlouf encouraged Europe to seize global uncertainties to enhance its autonomy and security.
Source: YAHOO