Economic Challenges: Kann Europa geopolitisches Gewicht durch seine Währung zurückgewinnen?
Vor dem Hintergrund des Trump-Xi-Treffens in Washington diskutieren Bert Rürup und Michael Hüther, ob die EU jetzt die historische Chance hat, den Euro zur globalen Leitwährung aufzubauen.
In a segment of Economic Challenges, Handelsblatt's Chief Economist Bert Rürup and Michael Hüther, Director of the German Institute of Economic Affairs, debate whether the European Union should deliberately promote the Euro as a global currency. The discussion is rooted in the recent meeting between Trump and Xi in Washington, which both guests consider a seismic shift in the geopolitical landscape.
The US is increasingly distancing itself from Europe, while Washington and Beijing, despite their rivalry, are moving towards a "constructive relationship of strategic stability". Rürup argues that Europe must "mature economically" and stop relying on the US. The Euro could serve as the third weight against the approach of two superpowers.
Hüther cites historical parallels, from Nixon's Shock to the introduction of the Euro under Kohl and Mitterrand, and urges an end to taboos in the German debate on Eurobonds, a common emissions agency, and an expanded ECB mandate. "We have to consider the opportunities, even if there are a few unpleasant bits," he says. Both see in the current domestic weakness of the federal government paradoxically a potential flagship theme: a bold European currency initiative as a response to extremists questioning the Euro and the EU.
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