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Walking on thin ice – Eurozone crisis knocking at the door. Again

10:34 04.07.2023 Andrey Kadomtsev

Walking on thin ice – Eurozone crisis knocking at the door. Again

The recession in the Eurozone continues for the second quarter in a row now. Even though the decline in terms of economic dynamics remains small – just about 0.1 percent of GDP, realistically minded experts believe this is the beginning of hard times waiting ahead. With foreign holders dumping the …

EU wants less dependence on US dollar

11:23 29.01.2021 Andrey Kadomtsev

EU wants less dependence on US dollar

On January 19 the European Commission released a preliminary plan which is designed to reduce the European Union’s dependence on the US dollar. In addition, the plan signals an intention to protect European companies from Washington-imposed extraterritorial sanctions. As a long-term strategy, it states an intention to “considerably” increase the …

Following the unknown route: the world in searching of dollar substitute

9:23 02.09.2020 Andrey Kadomtsev

Following the unknown route: the world in searching of dollar substitute

The ongoing escalation of trade wars and competition among the world’s top economies makes it imperative to consider institutionalizing several currency zones to form a sort of currency “multipolarity”.The forthcoming “currency multipolarity” became the subject of disputes in the 1990s, after the launch of a project to create a EU …

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