The Euro against the Dollar: A Possible Struggle?

Kamal el-Kaissi - The possibility of OPEC member States moving toward the euro makes it more likely that the oil-consuming nations will either do away with the dollar, or at least significantly reduce their dollar reserves while switching to the euro. This could lead to a 20 or even 40% reduction in the value of the dollar. OPEC switching to the euro would mean a severe degradation of America's ability to fund its enormous debts, thus, drastic US financial measure, even military intervention.

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