Paris (US $ 6.19 billion) Preparations to end monopoly of the dollar on global trade, Europe has started considering replacement of US currency after US-led demolition on several commercial issues. According to the details, after the start of industrial development in the world, the US currency dollar has set a monopoly on global trade for the last few decades.
US dollar monopoly has to be used for most of the world’s global trade. The same factor has played the most important role in the development of the US economy. While due to the monopoly of the US dollar, the US implies trade restrictions on any country in the world altogether.
America’s behavior has affected most of the world’s most developed continents Europe since the last few years.
That is why Europe has now considered an alternative to the US dollar alternative. In this regard the European Commission has given a plan to reduce the impact of the US dollar somewhat. According to the foreign news agency, European Commissioner of Economic Affairs, Pierre Moscow explained in the press conference in Brussels that US sanctions outside the Geographical boundaries in commercial conflicts now require that it should be replaced. It was also seen that Governments, financial institutions and multiple companies are on the mercy of the Washington Government in terms of US sanctions. It is important to note that many European nations are facing unmatched impact on global trade on global trade.