Michael Hüther: "We must not put on blinkers as soon as the term euro bonds is mentioned"
In an interview with the Handelsblatt, the IW chief demands that Germany use the dollar's loss of confidence and expand the euro into the global anchor currency. To achieve this, the economist wants to break a taboo.
The international monetary order is under pressure as the US intervenes in the foreign exchange and bond markets. Michael Hüther, Director of the Institute of the German Economy, sees this as a historic opportunity for Europe to develop the euro into a global leading currency. To achieve this, a common European debt would be necessary in the long term, which could lower financing costs for the entire currency union and provide geopolitical benefits.
Hüther suggests that a European investment union could be established, focusing on specific projects such as cross-border infrastructure, energy, and defense.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
