Possibly waiting for a reasonable replacement for US tech. For example, if the US should decide to shut off MasterCard and VISA services to Europe, it would create non-trivial difficulties for the European banking system.
Possibly waiting for a reasonable replacement for US tech. For example, if the US should decide to shut off MasterCard and VISA services to Europe, it would create non-trivial difficulties for the European banking system.
its also a one time trick for america, similar to the strait of hormuz
it would be so disruptive that europe would have to make and use an alternative, and then the US could not regain that market
There is a reason the US is worried about things like Pix is Brazil. Viable alternatives are coming online that cuts them out of the set of power.
Now imagine the costs for the oligarchs to let that not happen. 'Might makes right' also applies internally. When the rules don't apply you will see fiefdoms eating each other and white collar crime cranked up to the max. In these dynamics there is a reason to get from your clan a tsar in power who can guarantee some level of stability. If you see a lot of sycophancy displayed around the don you know why.
EU has started that with the Wero project.
https://wero-wallet.eu/
The banking system would probably be fine, only card payments would suffer but there are mostly already alternatives available.