By Maria Demertzis
Europe’s reliance on the US financial infrastructure presents a strategic risk for business. US debt is still the safest asset—that on which all other assets are benchmarked—and the US Federal Reserve still provides liquidity that sustains the global financial system in times of crisis. However, amid global decoupling, Europe’s reliance on the dollar and US payment systems present strategic vulnerabilities rather than mere technicalities. The correct response
