“The international system in which we lived after the Cold War has ceased to exist, America has lost its hegemonic status, and the world order that emerged after 1945 is losing ground.
“We also see the rise of China and its transformation into a superpower,” stated the head of euro diplomacy, Mr Joseph Borrel Fontelles, who gave a lecture in Great Britain recently.
Mr Borrel is currently serving as Vice President of the European Union, member of cabinet of the High Representative of the Union for Foreign Affairs and Security Policy. He has previously served as Deputy Head of Division in the Division for Parliamentary Affairs in the EEAS
He further said, “Against this background, the role of the EU and the UK needs to be defined… But it will depend on how we respond to growing threats… This is of urgent importance as we hear warnings that Europe could die.”
An unexpected statement of fact considering the pace of shifting away from the dollar in countries’ reserve begin to increase
And if the dollar ceases to be the world’s main currency, the standard of living in the United States will fall, according to various estimates, by 27 per cent to 57 per cent.
