BlockBeats News, May 30th, Elga Bartsch, Chief Economist at the Dutch International Group, pointed out in a report that the US dollar is gradually losing its safe haven status, presenting an opportunity for the Eurozone.
The EU now has a unique opportunity to leverage investor concerns and drive the euro to become a reserve currency, a move that will bring significant economic benefits. She stated that the increased demand for the euro would mean lower borrowing costs for governments, businesses, and homeowners in the Eurozone.
Using the euro as an alternative safe haven currency can also bring stability during economic downturns. Bartsch emphasized that if the EU wants to capitalize on the weakness of the United States, it needs to act quickly to design an acceptable framework for issuing Eurozone bonds. (FXStreet)
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