Bottom-line up-front: In the absence of credible economic arguments, Germany’s foreign minister, Heiko Maas, is making political threats disguised as economic arguments. Assuming US market access remains important to EU companies, business will continue to trump political arguments in the foreseeable future.
Reuters, Financial Times, ZeroHedge and others reported that Germany is calling for a global payment system independent of the US.
An Alternative SWIFT System?
Germany’s foreign minister, Heiko Maas, recently advocated for the creation of a new payments system independent of the US. He believes a new SWIFT-like […]