The US dollar may not be the best option as a reserve | CBC News

Author: James Alexander Michie

A new study has emerged by the Z / Yen study group, in which it is possible to appreciate that New York is overtaking London as the best destination for international finance, since in terms of assets such as infrastructure and access to personnel. quality, the quality of London as financial capital has had a fall that has positioned it in second place while New York takes first place in that survey and for its part, the financial center of China, Hong Kong, is not far away From London.

Meanwhile, in an attempt to obtain greater monetary independence, the president of the European Commission, Jean-Claude Juncker, declares war on the dollar. Juncker also said "We must do more to allow our single currency to play a full role on the international scene" he added "It is absurd that Europe pays 80 percent of its energy import bill, worth € 300 billion per year, in US dollars when only about two percent of our energy imports come from the United States, "he also said." It is absurd for European companies to buy European aircraft in dollars instead of euros.

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