Money, gold and geopolitics
Instead of bolivars, the central bank of Venezuela is increasingly distributing euro banknotes to its own banking sector. As a result, the euro is gaining market share in domestic payments, at the expense of the virtually worthless bolivar.
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For the first time since 2004, China issued a euro-denominated bond. The Chinese Ministry of Finance raised €4 billion this week by issuing new debt at less than half a percent interest rate.
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The euro is rapidly gaining popularity in trade between Russia and China. This is evident from new statistics released by the Russian central bank earlier this week.
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The European Commission will present a new proposal this week to settle energy contracts between European countries and with other countries in euro by default. In addition, a new price benchmark for oil is being considered.
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Russia is prepared to use the euro instead of the dollar for international trade if the European Union takes a
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The existing rescue mechanism for the euro is a completely inappropriate reaction to the weak fiscal policy of the countries
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