STRASBOURG (Reuters) - European Commission President Jean-Claude Juncker will call for the EU to promote the euro as a global currency to challenge the U.S. dollar as he presents his annual program to the European Parliament on Wednesday, a senior EU official said.
Among his concerns are the pricing of most EU energy imports in dollars even though only a tiny proportion come from the United States. With "political will", the official said, Juncker believed that more euro pricing was possible.
While Norway prices its substantial supplies to the EU in euros, the official said, other countries use dollars. Among the most important of these are Gulf states and Russia.
With the United States under President Donald Trump seeming to pull back from international engagements, the European Union could find it a favorable moment to spread the euro, the official said ahead of Juncker's State of the Union speech.
Add a Comment
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.